Victoria Petroleum Gets Go Ahead for Cooper Basin Exploratio

Victoria Petroleum reports that Primary Industries and Resources South Australia (PIRSA) has approved the drilling proposals for the prospects Hornet, Ventura and Airacobra located in permit PEL 115, Cooper Basin South Australia.

Preliminary site and access work is currently being undertaken on the Hornet location and rig mobilization is expected to commence on the 17th August followed by commencement of drilling approximately 23rd August. A Joint Venture meeting is to be held shortly to determine the location of the second well.

During drilling, Victoria Petroleum as Operator will issue daily drilling reports giving the status of the well including current depth and hydrocarbon shows. This should enable all investors to be fully informed as to the status of the well.

All the wells in the current PEL 115, 111 and 104 five drilling program are named after military aircraft.