AED Oil Spuds Puffin-9

AED Oil reports that the Stena Clyde has spud the Puffin-9 well in AC/P22 offshore Australia. Puffin 9 is located on a separate structure off the main Puffin horst block approximately 1.8 kilometers south of the Puffin 2 well.

Puffin 2 tested oil in 1974 at 4,608 bpd from late Cretaceous sandstones. Puffin 9 will test multiple reservoir objectives including sandstones within the Triassic, Upper Cretaceous and Tertiary sections that have been mapped using recent pre-stack depth migration reprocessing of the Onnia 3D seismic survey recorded in 1998.

The well will be drilled to a total depth of 3,145 meters to satisfy acquisition commitments to Century Exploration International from whom the company acquired its 100% interest in the Puffin Oil Field.

Following Puffin 9, the rig will be mobilized to the Puffin 7 location where it will commence drilling a production well into the northeastern area of the proven Puffin Oil Field. Development of the field including construction of production infrastructure for Puffin 7 is planned to commence shortly. The Puffin Field Development Plan and an application for a production license have been submitted to the Northern Territory and Commonwealth Authorities.

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