Coogee Resources to Abandon Wisteria-1

Coogee Resources says that it has reached total depth on Wisteria-1.   The well was drilled to a final total depth of 3,281 meters measured depth by the West Atlas jackup.  The encountered its remaining target, the Plover Sandstone, without encountering significant hydrocarbon shows. 

Norwest Energy reports that n the basis of these results, the joint venture has decided to cease drilling, run wireline logs and plug and abandon the well.

The well was located in AC/P32 in the Vulcan Sub-basin offshore Australia.  Partners in the AC/P32 permit are Coogee Resources as operator with 22.5%; Norwest with 15.0%; Adelphi Energy with 10%; Bounty Oil & Gas with 10%; Bharat PetroResources with 20%; and Cosmo Energy Exploration & Developmetn with 22.5%.

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