The Century 3 drilling rig is in transit to the well site in PEL-88 and is expected to spud on 16th May.
The Kitson prospect is a large fault closed structure that includes a seismically mapped fourway dip closure at the structure’s crest, and as much as 50 square kilometres of fault bound closure provided by a reverse fault.
The play includes five reservoir horizons — Namur, Birkhead, Hutton, Poolowanna and Tinchoo. Potential reserves for the four-way dip-closure range from 0.9 MMbbl to 4.6 MMbbl with a mean of 2.6 MMbbl. The larger fault-closed structure has a potential reserve range from 5MMbbl to 42MMbbl with a mean of 20MMbbl.
Interests are: Sundance Energy (earning) 45%, Cooper Energy NL 30%, Victoria Petroleum 10%, Enterprise Energy NL 10% Liberty Petroleum Corporation 5%.
