The failure of the Felicia-1 well last week spoiled the chances of a hat trick for the partners.
Gipsy-3 comes on the back of the Ginger-1 success which intersected a 21m gross gas column (13m net gas pay confirmed from pressure sampling).
The Gipsy-3 well is located in TL/1, 15km east of Varanus Island and 1.2km south of the Gipsy-1 oil discovery.
The 13m net oil pay within the North Rankin comprises additional pay 33m updip of Gipsy-1 which produces oil from the North Rankin. The reservoir quality in Gipsy-3 is similar to that in Gipsy-1 and is expected to flow at commercial rates on production.
The oil pay within the Mungaroo "B" is a new oil zone not intersected by Gipsy-1 which did not drill into this deeper target. This reservoir is also expected to flow at commercial rates.
The results of the well are now being applied to the seismic data for remapping and calculating reserves.
A development well is currently being planned for drilling within the next 4 to 6 weeks, which would allow immediate hookup for production.
Harriet Joint Venture participants include Tap Oil 12.2229%, Apache Energy (operator) 68.5% and Kufpec Australia 19.2771%.
