Muggles-1 will now be spudded prior to Vesta-1, which is located in WA-261-P and lies some 70 kilometres southwest of the Muggles location (WA-254-P). Vesta-1 will now be delayed until late April-May 2004.
The Muggles Prospect is an M australis stratigraphic pinchout trap at 1300 metres subsea depth within a Cretaceous channel on the Enderby Terrace. Prospect potential ranges in size from 26.2 (mean) to 68.8 (P 10) million barrels of oil recoverable.
If drilling is successful the discovery could be tied back to the Legendre Oil Field, lying 10 kilometres northwest. WA-254-P participants Apache and Woodside Energy have as a collective the majority interest in the Legendre Oilfield.
Participants in the Muggles permit include Sun Resources NL 7.8571%, Apache Northwest 47.8879% (Operator), Woodside Energy 24.3750%, First Australian Resources 10.7143%, Victoria Petroleum NL 6.1743% and Pan Pacific Petroleum NL 2.9914%.
The Vesta Prospect is a shallow buttress-stratigraphic trap lying west southwest of the Stag Oilfield. The C halosa sand of the Athol Formation is targeted in the trap with the prospect potential ranging in size from 11.5 (mean) to 23.2 (P10) million barrels of oil recoverable.
If drilling is successful the nearby Chamois oil accumulation 2.4 (mean) to 3.9 (P10) million barrels of oil recoverable could also be included in a development to tie back to the Stag Oil Field.
Participants in Vesta 1 are Sun Resources NL 7.78%, Apache Northwest Pty Ltd 57.07% (Operator), Tap Oil Limited 12.65%, Victoria Petroleum NL 12.50%, Arrow Energy NL 10.00%.
