Before drilling, the prospect was estimated to contain 24bcf of gas.

The well was sited on a crest of an nine square kilometre elongated anticline and was designed to evaluate the gas potential of sandstone units in the Permian section. Ginko-1 reached a total depth of 3415 metres and found high gas readings in basement rocks.

Several sandstone units with anomalous gas readings were penetrated in the Toolachee, Epsilon and Patchawarra formations, with data analyses indicating all sandstone units were gas-saturated. But unstable coal seams prevented further drill stem tests.

The partners are curently acquiring the Kapok 2D seismic survey, which will tie in the Ginko Gasfield with the Kapok prospect and Crocus structure. Under Innamincka’s rig use agreement, the drilling rig has now been transferred to another operator’s three-well program before returning to Innamincka.

Participants in the PEL 101 Joint Venture are: Innamincka Petroleum Limited (operator and 37.5%), Mid Continent Equipment Australia Pty Ltd (25%), and Vernon E Faulconer Australia Inc (37.5%).