Bengal announced that production has commenced from the Company's Cuisinier-1 oil discovery in Australia's onshore Cooper Basin. The well, drilled under the ATP 752P staged farm-in agreement, is producing at an initial rate of approximately 340 barrels of 52 degree API oil per day. The well has been completed as a beam pump oil producer with all oil being trucked to the Jackson Oil Field Production Facility.
The producing interval is the Murta Sandstone, which is well developed over the 12-metre interval from 1,622 to 1,634 meters. Cuisinier-1 is located approximately six kilometers west of the Santos operated Cook Oil Field in southwest Queensland, near the South Australian border.
Bengal has a 14.26% interest in the 631,000 acre Barta Block of ATP 752P and the Cuisinier-1 well by way of its wholly-owned subsidiary, Avery Resources (Australia) Pty Ltd., and intends to increase its interest in the lands and discovery to 25% following completion of the Phase 2 Farm-in Work. The Phase 2 work requires Bengal to contribute 55% of the drilling cost of the next earning well. Bengal is fully carried on up to two additional future exploration wells in ATP 752P.
"We're pleased not only with the success of the Cuisinier-1 well in the ATP 752P farm-in program, but also with the potential of our acreage in multiple geological zones on this block," commented Bradley Johnson, Chairman and CEO of Bengal.
Cuisinier-1 is the first well drilled on the Cuisinier structure. The Cuisinier structure is interpreted from 3D seismic data to be one of several culminations in the area. Future appraisal drilling is required to determine the size of the structure and the extent of the reservoir.
The structure has the potential to host oil in additional reservoirs. The adjacent Cook Oil Field produces oil from the prolific Hutton reservoir. Cuisinier-1 also had oil shows in the Birkhead and Triassic targets. Results in the Cuisinier-Cook area show that significant oil accumulations can be found in different reservoirs in this region.
Bengal has interests in five permit areas in the Cooper Basin. Upon Native Title resolution on ATP 934A and closing of the previously announced purchase of a 654,000 acre block, Bengal will operate over 50% of 1.9 million gross acres in this proven producing basin.
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