Downlands-4, the first well in Ausam’s PL 119 and ATP 471P Bainbilla Block farm-in Stage 1 program, will target the Permian Tinowon Sandstone gas reservoir.
Ausam will fund the first $1.5 million of the Downlands-4 well and then contribute pro-rated interest for any additional costs.
Drilling is expected to take 14 days to reach a total depth of 1918m.
After Stage 1 is completed, interests in PL 119 – Downlands East will be Mosaic (52%), Ausam (26.9%), Santos (21.1%), while stakes in the Bainbilla Bock will be Mosaic (60.9%), Ausam (26.9%) and Santos (12.2%).
