Great Artesian Oil & Gas Makes Discovery with Smegsy-1

Great Artesian Oil & Gas has made a new field gas discovery with the Smegsy-1 well located in PEL 106 in Australia. Great Artesian says that production casing has been completed and the Century #3 rig has been released.

It is anticipated that cased hole production testing of at least two intervals within the Patchawarra Formation at Smegsy-1 will be conducted once an engineering program has been prepared and a suitable rig contracted. An independent expert, MBA Petroleum Consultants, is currently evaluating the potential gas bearing zones including a report on net pay intervals.

The Century #3 rig will now be moved to the Nulla Nulla-1 in the Queensland portion of the Cooper Basin in ATP 549 (West). Drilling operations are expected to begin in mid-September. The Nulla Nulla 1 location is on a large fault related anticlinal feature. The well is targeting an oil play, involving Eromanga Formation reservoirs, situated close to the Permian pinchout edge, on the western margin of the Cooper Basin.

Nulla Nulla 1 will be operated by Enterprise Energy, which is farming into the ATP 549 (West ) Block. Following farmin, Great Artesian will retain a 25% stake, Icon Energy will hold 33.33% and Enterprise will hold a 41.67% stake.

Participants in the Smegsy Block are Great Artesian Oil and Gas as operator with 75% and Enterprise Energy with 25%.