Beach JV spuds in south east South Australia
Posted: 14 November 2005
A Beach Petroleum Limited joint venture has spudded the first onshore exploration well in six years to specifically target oil in South Australia ’s South East.
The Cowrie-1 well spudded at 8 am today in a 12 day program that will see the well drilled to a depth of 1,408 metres in pastoral country 25 kilometres southwest of Naracoorte and within PEL 27 in the Otway Basin.
Beach with a 30 per cent interest, is Operator for Cowrie-1, in joint venture with Origin Energy (50 per cent) and Essential Petroleum (20 per cent).
“The province already hosts a number of nearby gas production wells and the area’s stratigraphic structure is favourable for oil,” Beach Petroleum’s Managing Director, Mr Reg Nelson, said today.
“Our objective is the Sawpit Sandstones, 17 kilometres from the 1999 Jacaranda Ridge site, the last oil discovery (not commercialised) in the region,” Mr Nelson said.
Cowrie-1 represents increasing exploration activity by Beach in the region. The Company recently announced it would be Operator (50 per cent interest) in a new onshore gas exploration well, Glenaire-1, to be drilled early next year in the Pretty Hill Sandstone formation across the border from Cowrie-1 in Victoria’s PEP 160 block.
That well, 30 kilometres southeast of Penola, will be drilled in joint venture with Santos Limited (30 per cent) and Origin Energy Resources Limited (20 per cent).
For more information see http://www.beachpetroleum.com.au/
Posted by Richard Price, Editor, EnergyME.com
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