Oil Search Still in the Hunt at Shahd, Cobra, Paua Wells

Oil Search reports that on March 13, the NW Paua 1 ST2 well was at a depth of 2,641 metre and preparing to run in hole to drill ahead. Progress for the week was 583 metres.

NW Paua 1 is located in PDL 5, five kilometres northeast of the Moran oil field and six kilometres northwest of Paua 1x. The well is being drilled by the PPL 233 Joint Venture. Paua 1x was drilled on the steeply dipping and faulted forelimb of the Paua anticline in the mid 1990s and encountered oil shows in the Toro Sandstone and recovered oil from the Iagifu Sandstone. NW Paua 1 is targeting the Toro and Digimu sandstones in a more optimal location on the known hanging-wall structure. The planned total depth of the sidetrack is approximately 3,600 metres.

Oil Search reports that during the week, due to continued drilling difficulties, a decision was made to abandon the Cobra 1 well and recommence drilling from a newly constructed cellar. The rig is currently being moved and rigging up at the new site is 65% complete. Cobra 1A is scheduled to commence drilling next week.

Cobra 1 is located in PPL 190 and lies 13 kilometres east of the SE Gobe oil field and 7 kilometres east of the Bilip oil discovery. The well is targeting the Iagifu Sandstone, which is the principal reservoir in the Gobe and SE Gobe fields, in a seismically-defined sub-thrust prospect. Cobra 1 is the first in PNG to target a sub-thrust play as the primary target. The planned total depth of the well is 3,100 metres.

Oil Search reports that on March 12, the Shahd SE-1 well was at a depth of 1,558 metres and drilling ahead in a 12-1/4-in. hole. Progress for the week was 793 metres.

The Shahd South East prospect is a tilted fault block adjacent to the producing Shahd oilfield, in the East Ras Qattara concession, Western Desert, Egypt. The well is targeting the Bahariya and Kharita formations which are productive reservoirs elsewhere in the East Ras Qattara licence. The planned total depth of the well is 2,970 metres.

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