With a 15% working interest in six blocks in the Cooper/Eromanga Basin of South Australia, a minimum five well drilling program will commence with two wells in PEL 115 in August.
There has been some delay in starting the program due to the lateness of seismic recording and processing as well as unseasonal rains. However, delineation of a number of prospects has been completed and Impress expects two wells to be drilled in both the PEL 115 and PEL 104 permits, with one additional well to be spudded in PEL 111.
Drilling of the PEL 115 permit is expected to start in mid-late August with the Hornet prospect, a robust 3D controlled feature in the centre of the permit 8km to the north east of the giant one trillion cubic feet Toolachee gas field.
Hornet has significant upside gas reserves potential if the stratigraphic component of the target Permian Patchawarra Formation traps hydrocarbons. The upside recoverable gas potential is in excess of 25 billion cubic feet (bcf) of gas while the four-way closure has potential for 11bcf.
The next well in the PEL115 program is expected to be Ventura, a large four way closed feature to the south west of the Narcoonowie oil field with the potential to hold recoverable reserves of up to nine million barrels of oil (mmbbls) and 58bcf of gas.
Of the two northern permits, PEL 104 and PEL 111, drilling is expected to commence in October with the PEL 111 Catalina prospect located 8km north east of the Fly Lake oil and gas field.
Catalina is a low risk closed feature with the potential to contain recoverable reserves of 25bcf of gas and four million barrels of oil.
In PEL 104 the first well is expected to be an updip test of the Spectre-1 well, which flowed gas from the Patchawarra Formation and had good oil shows from the Tirrawarra section.
The feature is a low risk test of the Permian section with the potential to hold recoverable reserves of up to 15bcf of gas and two million barrels of liquids.
The final well in PEL104 is expected to be Wirraway, a prospect delineated by the recent seismic survey. It is located updip and to the west of the Callabonna well, which recovered oil from the Jurassic, section. Wirraway is a large prospect with the ability to hold recoverable reserves of up to 13mmbbls of oil.
