Great Artesian told the market this morning that these shows should be further evaluated once the well reaches a total depth of 1960m. Currently the well is at 1697m.
Spudded a week ago, Ballaparudda-1 is the first of two wells designed to test prospects in the 'oil fairway' between the Christies, Sellicks, Callawonga and Parsons oil discoveries in PEL 92 to the southwest, and the Growler and Wirraway oil discoveries in PEL 104 to the northeast.
The partners expect to spud the second well, Murrippi-1, in PEL 91 in February with Century Rig 3.
Ballaparudda-1 is targeting the Namur Sandstone, Birkhead Formation and Hutton sandstone, with secondary targets in the Poolowanna and Kalladeina formations.
Seismic mapping indicates the Ballaparudda structure has about 15m of structural relief and covers an area of 2.5 square kilometres.
Pre-drill P50 recoverable reserves are estimated to be 500,000 barrels of oil in the Birkhead-Hutton formations and 900,000 barrels in the Namur sandstone.
Great Artesian is fully funding its 60% interest in Ballaparudda-1 – estimated at $840,000 – while Beach holds the remaining 40%
