If successful, Hiraji-1 - the second PEL 113 oil exploration well this year - will confirm a new oil play in the Patchawarra formation on the southeast flank of the Dirkala Ridge, the company said.
With multiple oil targets, Hiraji-1 will address an unrisked P50 of 2.6 million barrels of in-place oil, with an upside P10 of 7.8 million barrels of in-place oil
With a planned total depth of 1700 metres using the Century Rig 3, Hiraji-1 has primary targets in the Murta, McKinlay and Patchawarra formations. Its secondary targets are the Birkhead and Hutton formations.
Stuart managing director Tino Guglielmo said this well was another step in Stuart’s largest-ever exploration program, which would see at least another 11 wells drilled during the 2005/06 financial year.
“This Patchawarra play will add to the potential of the Dirkala Ridge following the successful Padulla-2 well,” Guglielmo said.
The well is within the Strezlecki Regional Reserve, about 60km southwest of Moomba. As Hiraji is only 20km from the Worrior production facilities, any future production would be managed from Worrior, according to Stuart.
