Since the last report, no hydrocarbons have been encountered in either the primary Montara Sandstone, or the secondary Upper Vulcan Formation targets, reported Norwest Energy, Australian Worldwide Exploration and Adelphi Energy.
Magnolia-1 has so far been drilled to a depth of 2,987 metres and will continue drilling ahead to a deeper target in the Plover Formation sandstones. It has a planned total depth of 3240 metres.
Meanwhile, the companies said drilling operations were not expected to be threatened by Tropical Cyclone Clare, which has formed several hundred kilometres southwest of Magnolia.
Magnolia-1 was spudded in 97m of water on December 26 and will test a faulted four-way dip closure in a crestal position.
Participants in the well are: Coogee Resources (Ashmore Cartier) Pty Ltd 20% operator for the well; Norwest Energy NL 19.6% (permit operator); Bounty Oil and Gas NL 10.4%; Adelphi Energy Limited 15%; AWE (Timor Sea) Pty Ltd 10%; and OPIC Australia Pty Ltd 25%.
