Stuart Petroleum advised the following update regarding the drilling of its Kerinna 2 exploration well.
Kerinna 2, located in PEL 516, is being drilled 700 meters northeast of the Kerinna 1 well which discovered oil in the Hutton Sandstone in 1984. The well, programmed to reach a total depth of approximately 1855 meters, is targeting a mean unrisked recoverable oil potential of between 250,000 and 300,000 barrels from the Hutton Sandstone.
Kerinna 2 will also evaluate additional recoverable oil potential in the Murta Formation and McKinlay Member of the Namur Sandstone.
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