DRILLING

Myponga on the nose

It looks as though the partners in the Cooper Basin Myponga-1 well have come up dry.

A statement from operator Beach Petroleum said there were no significant hydrocarbon shows in the well bore after reaching total depth of 1470 metres.

It said it was pulling out of the hole after running wireline logs.

It was UK-listed Black Rock’s first well for many years, since new management was appointed at the start of the year in the form of managing director Ivan Burgess.

Interests are Beach Petroleum Ltd (Operator) 50%, Magellan Petroleum (NT) Pty Ltd 35% and Black Rock Oil & Gas PLC 15%.

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