The Gipsy-4 development well will be sidetracked from the North Gipsy-2H wellbore for immediate development of the oil reserves discovered in August this year by the Gipsy-3 exploration/appraisal well.
Gipsy-3 intersected 13m of net oil pay within the North Rankin Formation sandstones and 6.4m of net oil pay in the underlying Mungaroo "B"sandstones.
These additional oil reserves form a southern extension of the existing developed Gipsy oil field. Seismic interpretation indicates the possibility for additional reserves even further to the south of Gipsy-3.
The Gipsy-4 well is designed to produce from a stacked pay sequence. Firstly, the deeper Mungaroo "B" reservoir will be completed for production following which the well bore will be re-completed to produce the shallower North Rankin reservoir at a later date.
Harriet Joint Venture Partners are Tap Oil Limited (operator) 12.2229%, Apache Energy 68.5% and Kufpec Australia 19.2771%.
