Petsec Abandons Vermilion Well

Petsec Energy says its Vermilion 257 B-2 well has reached total depth and intersected the two target sands at the depth and with the expected thickness of sand as mapped using 3D seismic.

The sands did not contain commercial hydrocarbons and the well will be plugged and abandoned. TODCO's jackup, THE 251, will then be released. The well was located in 138 feet of water and reached a total depth of 14,108 feet.

Petsec is the operator of the well with a 100% working interest.

Petsec Energy Ltd is an independent oil and gas exploration and production company listed on the Australian Stock Exchange. Its focus of operations is on gas in the shallow waters of the Gulf of Mexico and onshore Louisiana Gulf Coast region of the USA, and on oil in the shallow waters of the Beibu Gulf off the south coast of China.

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