The test was run over the interval 1,599 to 1,625 metres in the Murta formation.
“This result is indicative of tight reservoir which is the key risk for the Murta formation in the Cooper Basin,” said Stuart CEO Tino Guglielmo.
“It is too tight to frac – it would not be economic,” he said.
Having reached 1,625 metres, the rig has now recommenced drilling towards the total depth of 2,355 metres.
The well is located about 430 metres northwest of Minkie-1, drilled in the early 1980s, and approximately 52 km NNE of the Moomba oil and gas processing plant.
Testing of Minkie recovered oil in the Namur Sandstone and the Wimma Sandstone as well as having significant oil shows in the Hutton Sandstone, Birkhead, Murta and Cadna-owie formations.
According to Stuart, Beeville has a potential P50 oil-in-place of approximately 4.6 million barrels in four separate reservoirs.
If the in-place potential is realised Beeville is capable of yielding a P50 reserve of one million barrels of recoverable oil.
Interests in the Beeville JV are Stuart Petroleum (operator) 20%, Hughes & Hughes Australia Pty Ltd 53.3% and Tri-C Resources Inc 26.7%.
