Arc Energy Spuds Hovea 12 Development Well

ARC Energy Limited has spud the Hovea 12 development well located in the Hovea Field in the onshore Perth Basin.

The primary target for the well is the Dongara Sandstone, the main oil-producing reservoir in the Jingemia, Hovea and Eremia oil fields. Hovea 12 is designed to intersect the Dongara Sandstone as near to the structural crest of the Hovea oil field as possible, which may be up to 20 meters updip from existing Hovea wells. The surface location is within the confines of the Hovea production facility and the well is being drilled directionally to intersect the top of the Dongara Sandstone at approximately 2,274 meters measured depth, approximately 1,090 meters north of the surface location. The well is expected to take approximately 24 days to drill and complete.

Participants in L1 and L2 (excluding the Dongara, Mondarra and Yardarino fields) and Hovea 12 are ARC Energy Limited as operator with 50% and Origin Energy Developments Pty Ltd with 50%.