Beach Petroleum to Spud Somerton-1 Exploration Well

Cooper Energy

The Somerton-1 exploration well is expected to spud on September 17th using the Century 3 drilling rig. The well is expected to take about 11 days to reach its total depth of 1852m.

Somerton-1 will test a robust, elongate anticlinal structure situated over a fault-related basement flexure in the east of PEL 92. The primary objectives of the well are the Namur Sandstone and sandstones of the Birkhead Formation and Hutton Sandstone, which are productive in the Christies oil field, some 7 km to the east-southeast. The Namur Sandstone also proved productive in the recently drilled Callawonga-1 well, some 6 km to the northeast. The Poolowanna Formation is a secondary objective.

The Somerton prospect has been mapped over an area of 3.6 km2 with 8 metres of vertical relief. The estimated P50 recoverable reserves are 0.6 million barrels of oil in the Namur Sandstone and 0.4 million barrels of oil at the Birkhead/Hutton level. The prospect is assessed to have a low risk (29% probability of success) with hydrocarbon charge being the key risk element. Each of the other risk elements (trap effectiveness, reservoir presence and seal) is considered low risk.

The participants in PEL 92 are Beach Petroleum as operator with 75% and Cooper Energy with 25%.