Oil shows were observed from a depth of 1317m to 1331m. An open-hole drill stem test carried out between 1312m and 1325m recovered two barrels of oil-cut mud with no water.
VicPet interpreted the Murta formation in this area of the Greater Mirage Murta oil pool concept to contain a potential 23 million bbls of oil in-place.
Following rig maintenance, the well will continue drilling to test the primary target stacked sands of the early Permian Patchawarra formation at a depth of 1927-1967m.
This deeper section has the potential to host up to 130 billion cubic feet or 18 million bbls of oil, according to the Perth-based company.
Managing director John Kopcheff said oil and gas shows at nearby existing wells provide encouragement for the Permian hydrocarbon potential at Lightning-1.
“Continued exploration success in the deeper Permian section, if oil, would prove up a new significant Permian oil resource in the southern part of the permit,” he said.
“If exploration success proves up Permian gas, this will be commercially significant as Lightning-1 is 400 metres from the open access Moomba to Sydney gas pipe line, thus ensuring ready access to the Sydney gas market.”
Participants in the drilling of Lightning-1 and PEL 115 and their respective interests are VicPet, which holds a 40% stake, Impress Ventures (40%) and Roma Petroleum (20%).
