DRILLING

Stuart gears up for Cooper/Eromanga drilling

STUART Petroleum plans to start a $12 million, six-well exploration and appraisal program in the ...

Stuart gears up for Cooper/Eromanga drilling

As is the company’s wont, Stuart has named the prospects after famous racehorses.

The operator previously said the Doriemus-1 exploration well, in the 100%-owned PEL 102 permit, would be drilled after Comic-1 and Rainbird-1, located in different permits.

But yesterday it said this well would be spudded first, followed by the Cleansweep-1 exploration well in early August, and Stuart will pay all of the drilling costs to earn a 50% stake in the permit.

“The drilling program continues Stuart’s investment in the Cooper/Eromanga basin area, where it is building a significant portfolio of producing assets,” Stuart managing director Tino Guglielmo said.

Also this month, the company plans to drill the Comic-1 well, in which it has a 66.67% stake, and will operate the well on behalf of the PEL 113 Dunoon Block Joint Venture.

Towards the end of August, a JV comprising Stuart, Cooper Energy and Red Sky Energy will start drilling the Rainbird-1 exploration well.

Red Sky will fund 98% of the well to earn its working interest.

The development wells Worrior-5 and Worrior-6 are scheduled for drilling in mid to late July.

Stuart, which holds a 70% stake, will operate these wells for the PPL 207 JV.

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