Magellan Says Callisto-1 a Duster

Magellan Petroleum says that the Callisto-1 exploration well in ATP 267P Queensland, Australia has been plugged and abandoned as a dry hole. The well reached a total depth of 1877 meters. Wireline logs were acquired and confirmed that no significant hydrocarbons had been encountered in the well. The primary target of the well was the Permian Toolachee Formation and Early Jurassic Hutton Sandstone.

Partners in the well are Santos as operator with 59.064% and Magellan with 40.936%.