Senex Energy Finds Oil at Martlet-1 Well in PEL 104 in SA's Cooper Basin

Beach Energy Ltd. reported Friday that oil was discovered in the Namur Sandstone at Martlet-1, an exploration well in PEL 104 (Beach 40 percent and Senex Ltd. 60 percent, and operator) on the western flank of the Cooper Basin in South Australia.

Martlet-1 intersected 19.6 feet (6 meters) of net oil pay at a depth of 4,770 feet (1,454 meters) measured depth.

This is the first Namur Sandstone oil discovery in the PEL104/111 joint venture area.

Reg Nelson, Beach managing director, said “The discovery further vindicates Beach’s acquisition of Impress Energy. The presence of oil within the Namur Sandstone confirms the extension to the north of the play that has delivered prolific fields such as Bauer, Callawonga and others further south, and provides an additional primary target to the proven Birkhead oil play in the area.

This discovery further demonstates the strength of Beach’s oil business in the Western Flank of the Cooper Basin.”

Beach has also started focusing efforts on the Eastern Flank of the Cooper Basin. Through our farm-ins with Bengal Energy in ATP 732 and more recently with Drillsearch in ATP 924, we plan to utilise our expertise to interpret 3D seismic to identify prospects for drilling in the first half of 2015.


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