Adelaide Energy Reaches TD at Patrick-1 Well

Adelaide Energy reached a Total Depth (TD) of 2,998 meters at its 100% owned Patrick-1 well, over the weekend. 

The Jacaranda Ridge Sandstone which was the primary objective of the well was intersected at 2675 mMD (meters Measured Depth). A total of 32 meters of core was cut from 2685 to 2717 m and successfully retrieved. Initial indications are of a continuous gas column of 37 meters with the best reservoir quality around 8 - 13 meters thick.

The well has also encountered significant gas shows and fluorescence in the secondary objective, the Sawpit Sandstone intersected at 2765 meters.

Electric logging of the well has commenced and is expected to be completed over the next few days. The logs together with the core will allow further evaluation of both targets.

The rig will move off Patrick-1 in the next few days. The well will then be tested later this month (along with the neighboring recently drilled Hollick-1 well which also encountered significant gas shows).

Patrick-1 and Hollick-1 are located in PEL 255 of the onshore Otway Basin, South Australia.