The Perth-based company told the market yesterday it spudded the Stokes Bay-1 well on Wednesday, with drilling expected to take 15 days to reach a total planned depth of 2505m.
Stokes Bay-1 is a test of the extent and reservoir development of the gas accumulation discovered by the 1992 Point Torment-1 well, which flowed up to 4.3 million cubic feet of gas per day from the Carboniferous-aged Anderson Formation sandstones.
Arc said it received encouraging signs for Stokes Bay-1 while it was drilling the Valentine-1 well ahead.
“The Valentine-1 well intersected very strong gas shows and indications of porosity in the Anderson and Laurel Formations downdip from the target interval in the Stokes Bay-1 well,” the company said.
“This is a very positive indication for Stokes Bay-1 which is targeted to intersect these objectives within closure, some 90 metres updip from the Valentine-1 intersection.”
Participants in the two wells are: Arc Energy (operator – 38.95%), Empire Oil & Gas (14.8%), Emerald Oil & Gas (12.75%), Pancontinental Oil & Gas (10%), Phoenix Resources (10%), First Australian Resources (8%) and Indigo Oil (5.5%).
