The log analysis and pressure data show that the prospective reservoir intervals within the well are water saturated. The company has concluded that the lack of hydrocarbons in Findra-1 is thought to be a result of the Findra structure being formed later than the generation and migration of hydrocarbon within the area.
The well had been targeting potential reservoirs in the Paaratte Formation at approximately 480 m and in the Flaxman/ Waarre Formations at approximately 680m.
Essential is now preparing to plug and abandon the Findra-1 well which is located in the Victorian petroleum exploration permit PEP 159 and is owned 100% by Essential Petroleum Resources.
