PETSEC Energy says drilling is continuing at the first well in a program targeting the Hollywood AVO trend prospects, onshore Louisiana, where it is targeting 58 billion cubic feet of gas and 1.75 million barrels of oil reserves.
Spudded three weeks ago, the CL&F 28-1 well on the Acapulco prospect had this morning reached a depth of 2974 metres, the Sydney-based company said.
Drilling will continue to a total measured depth of 4378m.
The prospects are located about 110 kilometres southwest of New Orleans in Terrebonne Parish, Louisiana.
Petsec holds a non-operating 23.53% working interest and 13.25% net revenue interest in the project.
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