The drilling rig is now being moved 220 kilometers to the northwest to the Ascender-1 drill site in PEL 111 where it is anticipated drilling will commence in approximately 10 days time. Ascender-1 is the next well in the Cooper Basin Western Margin Oil Project with the aim of extending from the Growler-Wirraway Oil Field, the Jurassic oil fairway 22 kilometers to the north.
Commenting on the drilling results from Lancer-1, Victoria Petroleum NLís managing director john Kopcheff said:
"While the oil show observed In the Permian is encouraging, it is considered noncommercial and the decision has been made to cease operations at Lancer-1 and move the rig straight away to the Ascender-1 drill site."
"We look forward to the start of drilling operations at Ascender-1 in around ten days time."
The participants in the drilling of Lancer-1 and PEL 115 and their respective interests are as follows;
Victoria Petroleum N.L (Operator) 40% Impress Energy Ltd 40% Roma Petroleum N.L. 20%
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