Magellan told the market this morning that operator Santos had spudded the first exploration well, Burundi-1, about 7.5km south of the Nockatunga oil facility and 9.5km southwest of the Thungo oil field, in PL 33.
The Burundi prospect is a four-way dip closed structure on the western end of the Karwin Complex, immediately updip of the Karwin Trough.
Primarily the well, which has a planned total depth of 1436m, will target oil reservoir objectives in the Murta Formation and the Birkhead Formation.
Following Burrundi-1, Santos will drill the Maxwell-5 appraisal well in PL50.
Santos is operator and holds a 61.006% in Burrundi-1, while Magellan has 38.994%.
