DRILLING

Cleansweep-1 test recovers oil: Stuart

A DRILL stem test has recovered 74 barrels of 42-degree API oil, with no water, in the Cleansweep...

Cleansweep-1 test recovers oil: Stuart

Stuart said the test was run over the Birkhead Formation for four hours, before drilling resumed towards a depth of 2412m in the Poolowanna Formation.

An oil show was noted in this zone and will be further evaluated by wireline logs and a drill stem test.

Before drilling started, Stuart estimated that Cleansweep-1 had the potential to find 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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