DRILLING started yesterday on the Patrobus-1 well in PEP 155 in Victorias Gippsland Basin. The pa...
Lakes chairman Robert Annells said the well site was selected following analysis of the ‘Falcon’ gravity-gradiometer and magnetic survey.
Following a farm-out agreement, Gippsland Offshore Petroleum will earn 51% interest in the Marlo Block in PEP 155, after committing to pay up to $40 000 of a two well program in the area.
Once the farm-in is complete, joint venture partners will be: Gippsland (51%), Lakes Oil (46%) and Rilo Explorations (3%).
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