DRILLING

Might & Power-1 makes the grade: Stuart

COOPER/Eromanga Basin partners Beach Petroleum and Stuart Petroleum are currently casing and suspending their Might & Power-1 wildcat in permit PEL 113 as a potential oil well.

Might & Power-1 makes the grade: Stuart

Operator Stuart told the Australian Stock Exchange that drill stem test 3 run over the interval 1196.1-1199m in the McKinlay Member recovered two barrels of oil in the drill pipe.

DSTs 4 and 5 were mis-runs and as a result, the Murta Member will be evaluated further during completion operations.

Stuart holds a 66.7% stake in Might & Power-1, while Beach owns the remaining 33.3%.

Might & Power-1, named after a racehorse that won the 1997 Melbourne Cup, was the second well to be drilled in Stuart's four-well, back-to-back drilling program.

The first well, Tawriffic East-1 in PEL 93, was plugged and abandoned after failing to encounter hydrocarbons.

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