Following completion Worrior-2 will be brought on line as an oil producer by month end at an initial rate of approximately 2000 barrels of oil per day. The well successfully achieved its development objectives intersecting oil pay in the McKinlay and Birkhead formations and gas pay in the Patchawarra.
The rig will then move to the Arwon-1 location where drilling operations will commence shortly thereafter.
Worrior-2 is located 55km south-west of the Moomba oil & gas facilities, and approximately 250m to the north-north-west of the Worrior-1 producing well. Participants in the PEL 93 Joint Venture are Stuart Petroleum Limited (Operator) 70% (STU) and Cooper Energy NL 30% (COE).
Stuart stock was steady this morning at 83 cents as was Copper Energy at 25 cents.
