Drilling Commences at Hadda-1

Bounty Oil & Gas reports that the Ensco-56 has commenced drilling the Hadda-1 well, a rank exploration wildcat well offshore Australia in permit WA-325-P in Perth Basin.

Hadda-1 is a vertical well located in approximately 45 meters of water about 150 km northwest of Geraldton, Western Australia. Defined by high-quality 3D seismic, the primary target is the Late Permian Dongara Sandstone, with secondary targets in sandstones within the underlying Irwin River Coal Measures. The well is scheduled to reach its planned total depth of 1830 meters next week.

Estimates of potential recoverable oil reserves at the Hadda prospect range up to 65 million barrels.

Partners in WA-325-P are Roc Oil as operator with 37.5%; Apache with 37.5%; voyater with 12.5%; Bounty Oil & Gas with 7.5%; and Wandoo Petroleum with 5%