But gas was observed above 1000 metres during evaluation of the wireline logs and the partners have not ruled out re-entering the well in the future. A cement plug has been set at the bottom of the casing at a depth of 930 metres, while a second will be set near the surface.
“It is possible from our experience in the Gippsland Basin that this well could be a candidate for fracture stimulation at a later date,” said Lakes chairman Robert Annells.
By funding the first $1.2 million of the Bellarine-1 drilling cost, Jupiter Energy has earned a 50% interest in PEP 163.
