This article is 19 years old. Images might not display.
The rig has been held up with extensions to work at ConocoPhillips' Firebird-1 well about 250km northeast of the Magnolia site.
Magnolia-1 will not be cased and perforated if it encounters oil, Bounty said. Instead, it has been designed to be cased and suspended as a potential production well.
After drilling vertically to a planned total depth of 3,240 metres, the well will be conditioned and a full set of electric logs acquired, Bounty said.
Partners in AC/P 32 (subject to the completion of earning phases) are: Coogee Resources (Ashmore Cartier) Pty Ltd (farm-in operator, 20%); Westranch Holding (a wholly-owned subsidiary of Norwest and permit operator, 19.6%); OPIC Australia Pty Ltd (25%); Adelphi Energy Limited (15%); Bounty Oil & Gas NL (10.4%); and Australian Worldwide Exploration (10%).
