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Drillsearch Energy Ltd Commences Three Well Exploration Drilling Program At Western Cooper Wet Gas Project

Tuesday, 26 Mar 2013 08:24pm EDT 

Drillsearch Energy Ltd announced that it has commenced a three well exploration drilling program in its 100% owned and operated portion of the Western Cooper Wet Gas Project in PEL 106A. Conventional Liquids-Rich Gas: the primary focus of the exploration program is conventional wet gas accumulations in high quality sands in the Patchawarra Formation. This program will drill three prospects: Wamberal-1, Moruya-1 and Narrabeen-1; This program will commence with Wamberal-1 which is expected to spud on March 25, 2013.; Unconventional Resources in Tight Sands and Shales: In addition to primarily targeting conventional sands of the Patchawarra Formation, the program’s secondary target is the identification of oil and gas resources in tight sands of the Patchawarra, Tirrawarra, Epsilon and Toolachee Formations as well as the shale gas potential within the Roseneath and Murteree Shale. As part of the drilling of Moruya-1, Drillsearch will cut two 30m cores targeting conventional and unconventional reservoir sequences in the Patchawarra Formation; Wet Gas Project Developmen: The initial three exploration wells are in close proximity to a number of the existing wet gas discoveries in PEL 106A; namely the Paprika, Smegsy, Nutmeg, Cadenza, Rossco and Paranta wet gas discoveries. Drillsearch currently carries independently audited recoverable 2C contingent resources of 61 BCF raw gas plus associated liquids of 698,000 bbls of condensate and 164,000 kTonnes of LPGs. 

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23 Oct 2014