Apache Energy released the rig from a long-term contract late last month to Strike Oil which will operate several of the wells.
Following Altostratus-1, which is due to reach target depth within days, the rig will drill Boojum-1 in TP/18 for almost a fortnight and then the Cyrano-2 appraisal well in EP 364. Cyrano-2 is expected to take just over a week to reach target depth. All the above estimations are on a dry hole basis.
Altostratus-1 is being drilled by Strike Oil (operator – 90%) with Arrow Energy spin-off Bow Energy taking a 10% stake.
Cooper-1 will test a robust four-way dip within the Cretaceous Birdrong Sandstone reservoir, 12 kilometres south of the undeveloped Rivoli gas discovery, which yielded an 11 metre gas column overlying a one metre oil leg.
Potential prospect sizes range from 12 million to 24 million barrels of oil recoverable.
Interests in Cooper-1 are Strike Oil (operator – 40%), Victoria Petroleum 32.5%, Black Rock Oil & Gas 7.5%, Bow Energy 10% and Sun Resources 10%.
Interests in Boojum-1 are Tap Oil (operator) and Strike Oil with 50% each. This oil well is a 10 million barrel prospect.
Interests in Cyrano-2 are Tap Oil (operator 15%) and Black Rock Oil & Gas plc. It is targeting 8 million barrels of oil recoverable with a possible 100pj of gas.
