Electric logging confirmed the presence of hydrocarbons in two Forbes sandstone intervals. Based on initial interpretation, Pacrim said there appears to be a combined 20-30 feet (6-9m) of net pay for the two zones, consistent with pre-drill expectations.
As a result, the joint venture, which also includes Livingstone Petroleum and operator Nahabedian Exploration Group, has decided to set pipe to 7800 feet (2377m) and complete the Tennis-1 well for production testing, which will start once a service rig is available.
“At this stage, the Tennis-1 exploration well appears to be a typical Forbes gas discovery,” Pacrim managing director Rodney Foster said.
“Pacrim Energy and its partners are delighted to have encountered gas with its first exploration well in this new project area. Its significance, however, can only be evaluated once a complete testing program has been undertaken.”
If successful, Pacrim will earn equity in the surrounding Omega Project area, which it says has many additional drilling opportunities and could provide an initial production base.
The Tennis prospect was developed on 2D seismic data, with each target zone having seismic Amplitude and AVO anomalies.
Pacrim, which has a 20% interest in the project, said a commercial gas flow from Tennis-1 could be quickly hooked into existing pipeline infrastructure, located 2km from the drill site.
Nahabedian Exploration and Livingstone Petroleum each hold a 40% stake in the Tennis-1 well.