EXPLORATION

Palmerston-1 with early shows

Origin Energy and the ATP 682P Joint Venture partners, have intersected various hydrocarbons in the exploration well Palmerston 1, located in the Surat Basin 70 km south east of the township of Surat.

Over the weekend, wireline logging operations were completed, and 140 mm casing run to the new total depth of 2,815 metres.

However, wireline logs, wireline pressure sampling and sidewall cores indicate the Hydrocarbons are present in comparatively poor quality sandstones in the Lower Tinowon Formation between 2,750 and 2,767 metres.

As a result of likely high pressures recorded at these depths in nearby wells, it was decided for safety reasons not to conduct any open hole drill stem tests.

Consequently, the well was cased allowing this interval to be tested under more controlled conditions using a work over rig at a later date.

Without definitive test results, it is too early to speculate on the type or commercial significance of the hydrocarbons inferred to be present in the well.

Participants in the well are Origin Energy Resources 55% (Operator), Kingston Petroleum 20% and AusAm Resources 25%.

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