Cyrano-2 Appraisal Well Spuds Offshore Australia

Black Rock Oil & Gas reports that the Cyrano 2 appraisal well is expected to spud on December 6th. The Ensco 56 jackup was handed over to the Joint Venture parties on Sunday December 5th before being towed to the Cyrano 2 location.

Black Rock Oil & Gas Managing Director Mr. Ivan Burgess said that "Operations are progressing well and we are ahead of schedule. The well is located in the Carnarvon Basin of Western Australia which is Australia's largest hydrocarbon producing area. Cyrano 2 is expected to take 10 days to drill to a predicted total depth of about 1,590m in 13 meters water depth."

Cyrano 2 is being drilled as a follow up to the Cyrano 1 discovery. The Cyrano 1 well intersected a 10 metre oil column underlying a 19 metre gas cap within lower Cretaceous sandstones. Primary objectives in the well are the Mardie Greensand and Airlie Sandstone which are hydrocarbon bearing in Cyrano 1. The Cyrano 2 well will also be drilled to intersect a large prospect at Lower Jurassic and Upper Triassic levels.

The Cyrano 1 discovery confirmed the viability of a trap and seal. The Cyrano 2 location will test a separate structural bump from the seismic mapping and is positioned in a down-dip position to test for the presence of a base seal and oil reservoir in the Mardie Greensand.

Tap Oil holds an 85% stake in this well and Black Rock Oil & Gas holds the remaining 15%.