Santos Hits Offshore Australia

Santos Ltd reported that the Corowa-1 exploration well located offshore Australia in the Carnarvon Basin flowed more than 5,200 barrels of oil per day, with accompanying natural gas.

Corowa-1, in permit WA-264-P, flowed 5,276 barrels of oil per day through a 19 mm surface choke at a flowing well head pressure of 880 per sq inch from the interval 1,549 to 1,560 metres in a Barrow Group Sand. The oil flow was accompanied by 2.28 million cubic feet per day of gas with no water. There was no oil-water contact in the well. The well was drilled by Transocean Sedco Forex's jackup, Ron Tappmeyer.

Plans are being made for further appraisal drilling of the discovery and nearby prospects.

Corowa-1 is located in approximately 275 feet of water, 25 miles west of the Thevenard Island production facility and 25 miles south of Griffin Field. Santos operates the prospect with a 66.67 percent interest in WA-264-P and Idemitsu Oil Expl (Barrow) Pty Ltd holds the remaining 33.33 percent.