Evaluation of wireline logs indicated the presence of hydrocarbons in the Birkhead Formation at 2102-2122m, the Poolowanna Formation over the intervals 2314-2329.5m (Upper), and 2364-2367m (Lower), the company said.
Three production tests will now be run over the intervals to determine whether the hydrocarbons are productive and commercial, it said.
Fairbridge lies close to the Keleary and Telopea oil fields and is on the spill path of both fields, according to Cooper Energy. The prospect was confirmed by both new and reprocessed, older seismic data in a seismic acquisition and processing program undertaken by Cooper last year.
Interests in Fairbridge-1 are Cooper Energy (operator) 38.33%, Sundance Energy 46.67%, Enterprise Energy 10%, and US independent Liberty Petroleum 5%.
