After an extended hold-up, sidetrack operations were finally successful over the weekend and new hole was drilled about 55 metres beyond the previous maximum depth, BSOC said.
But now a problem with the drive system on the Ocean Patriot rig has halted progress and the rig owner is having to undertake repairs.
The well’s prime targets are the interpreted oil bearing sandstones penetrated in
Nannygai-1. ZaneGrey-1 is targeting these sandstones at a shallower level on the same structure at about 3250 metres (2800 vertical metres below sea level) in the intra-Latrobe Formation.
The company estimates the ZaneGrey prospect could contain an unrisked prospective resource of 134 million barrels of recoverable oil.
Participants in the Vic/P42 JV are Bass Strait Oil Company (50%) and Inpex Alpha (50%).
