Operator Texas Standard Oil & Gas Operating Company was this morning drilling the Schoenfield-1 well ahead at a depth of 2125 feet, VicPet told the market.

Drilling is expected to take 30 days to reach a planned total depth of 13,740 feet.

The El Fatso Prospect was defined from good-to-excellent quality 3D seismic shot in 1995, which has recently been reprocessed and re-mapped, the company said.

“The start of drilling of El Fatso provides Vicpet with the opportunity to participate in the drilling of an exciting exploration well which offers the potential for excellent productivity and attractive reserves potential on an attractive risk return basis,” VicPet managing director John Kopcheff said.

“The presence of seismic attributes which are positive indicators for the presence of gas in the target horizons is particularly encouraging given the close proximity of the producing El Campo gas field, although the target horizons are yet to be proved by the drill.”

Schoenfield-1, will target three stacked seismic amplitude and AVO defined prospects in a lower Yegua sand fairway between 11,000 feet and 13,000 feet measured depth, according to Kopcheff.

The operator has an estimated unrisked potential recoverable resource across the three sands of up to 72 billion cubic feet and 6.5 million barrels of condensate at a P10 level of confidence.

The unrisked P90 potential resource estimate is 19.7Bcf and the P50 potential resource is 30Bcf.

The lease area is directly south of the Phase Four, Shanghai and El Campo gas fields.

These fields have produced more than 120Bcf of gas and 9MMbbl of condensate from Eocene-aged Yegua sands in a fault block up-dip and 2km north of El Fatso, according to VicPet.

Interests in the El Fatso prospect are Aurora with 50%, VicPet with 20% and private United States interests with 30%.