Senex Finds Oil at Burrana-2 Well in Cooper Basin

Orca Energy Limited (Orca or the Company) announced Friday that it has made a significant oil discovery in the southern Cooper Basin permit PEL 115 with the Burruna‐2 oil exploration well in South Australia.

Wireline logs have confirmed a net pay interval in the mid Namur Formation of 17.4 feet (5.3 meters) and a subsequent drill stem test has resulted in oil free‐flowing to surface at a rate of over 750 barrels per day with no associated water. Burruna‐2 will be cased and suspended as a future oil producer.

The well was drilled to a total depth of 6,286 feet (1,916 meters) by Joint Venture partner and Operator, Senex Energy Limited and as per the Sale Agreement announced on June 13, Orca was free carried for all costs associated with drilling, casing and completing the well.

Senex cut 59 feet (18 meters) of core through the Murta Formation, which will be analyzed for permeability, porosity and rock strength to aid in the design of production enhancement techniques. Free oil was observed with the recovered core and hydrocarbon fluorescence was noted over a gross interval of 46 feet (14 meters). This further
confirms the potential of the regionally extensive Murta Formation across the newly formed “Fury Joint Venture” area (Orca 20 percent, Senex 80 percent) where recently Fury‐1 also successfully tested an 59-foot (18‐meter) gross oil column within the Murta Formation.

Commenting on the discovery, Orca Managing Director Greg Bandy said, “Given that the Namur Sandstone has proven to be a high quality reservoir with very high permeability and recovery factors, we are expecting substantial oil production rates within this newly formed JV area and look forward to adding oil reserves to Orca’s existing and exciting exploration portfolio of assets.”