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focus is on the cooper basin sa

  1. stockgossips

    1,250 Posts.

    New oil strike in SA Cooper Basin
    26 July 2002
    Partners Beach Petroleum and Cooper Energy have struck oil in the first of four exploration wells being drilled by the joint venture over the next seven weeks in the Cooper Basin region of South Australia.

    Operator Beach reported late yesterday that the Sellicks-1 wildcat exploration well had flowed oil at a rate of 1780 barrels per day.

    The oil flowed through a half inch choke during an initial drill stem test today over a 13-metre interval between 2058 and 2071 metre depth in the Patchawarra Formation.

    The Sellicks-1 oil find follows the Acrasia-1 and Acrasia-2 oil discoveries (Beach 25% interest) made in recent weeks in a Cooper Basin joint venture with Stuart Petroleum.

    Excellent start

    "This is an excellent start to our current Cooper Basin drilling program," Beach Petroleum's Managing Director, Mr Reg Nelson, said today.

    "Beach will proceed with drilling and further testing to determine the commercial viability of the discovery," he said.

    "We believe that this is one of, if not the largest, oil flows ever achieved from the Patchawarra formation.

    "It is particularly pleasing that our primary target has produced such a strong oil flow which was accompanied by gas.

    "It also indicates a strong migration of oil through the western flanks of the Basin and we plan to explore this further through the back-to-back drilling of the remaining three wells in this program."

    All four of Beach's wildcat wells are being drilled within an 85-kilometre radius of the existing Moomba production facility.

    Beach has a 100% interest and is operator in Sellicks-1, which is being drilled in PEL 92 with a total depth target of 2,205 metres.

    Cooper Energy NL is earning a 25% in the well by contributing to the cost of drilling.

    Sellicks-1 will be followed by drilling of the Maslins-1, Aldinga-1 and Henley-1 exploration wells - with the last due for completion by mid-September.

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