Gats-1 Well Offshore Australia a Dry Hole

Apache Northwest Pty Ltd reports that the Gats-1 reached total depth of 860 meters. The primary target, the M.Australis sandstone was poorly developed with no indications of hydrocarbons. As there were no other significant hydrocarbons shows, the well is being plugged and abandoned. The well is located in the Carnarvon Basin offshore Australia west, southwest of the Stag Oilfield.

Depending on weather the next well to be drilled could be Hestia-1, located within WA-261P

Participants in the Gats1 and Hestia 1 wells are Strike Oil Limited 16.2%; Apache Northwest Pty Ltd (operator) 45.1%; Victoria Petroleum NL 12.5%; Bow Energy Limited 10.0%; Tap Oil Limited 10.0%; Sun Resources Limited 6.2%.

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