DRILLING

Stuart, Cooper hit hydrocarbons in Cleansweep-1

PEL 100 operator Stuart Petroleum is about to run a drill stem test over a zone of interest in it...

Stuart, Cooper hit hydrocarbons in Cleansweep-1

Co-venturer Cooper Energy said oil fluorescence and cut was observed over the interval 2128-2133.5 metres.

"The oil shows were accompanied by minor oil in the drilling mud and elevated gas readings of 300 units on a background of 10 units," it said.

Last week, drilling was suspended at Cleansweep-1 due to mechanical failure of the rig.

With repairs completed, drilling of the well restarted on the well on Wednesday.

Cleansweep-1 is targeting 950,000 barrels of oil at the P50 level of confidence in the Paning, Birkhead-Hutton and Poolowanna Formations, with secondary potential in the Tinchoo Formation.

Once drilling is finished, interests in PEL 100 will be: Stuart (operator- 50%), Sundance Energy (23.333%), Cooper Energy Limited (19.167%), Enterprise Energy (5%) and Liberty Petroleum Corporation (2.5%).

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