ARC Energy Spuds Corybas 1 Well

ARC Energy has spud the Corybas 1 exploration well located in the onshore Perth Basin Production Licence L2 in Australia using the Century 11 drilling rig.

The surface location is approximately 14 kilometers east northeast of the township of Dongara and 250 meters southeast of the Central Yardarino 1 well. The proposed total depth of the well is 2670 meters measured depth and it is expected to take 26 days to drill on a dry hole basis.

Corybas 1 will evaluate the potential of the upper High Cliff Sandstone which was not penetrated in Central Yardarino 1 but forms the productive horizon in Hovea 2, where it flowed gas at 13.5 million cubic feet per day. The well will also provide information on the Irwin River Coal Measures known to be gas bearing in the area but generally of poor reservoir quality.

Participants in L1 and L2 (excluding the Dongara, Mondarra and Yardarino fields) and Corybas 1 are ARC Energy as operator with 50% and Origin Energy with the remaining 50%.