Innamincka Petroleum says that the ODE 30 drilling rig is preparing to mobilise to start drilling the Juniper-2 well in PEL103.

The Juniper-1 exploration well, drilled last Occtober, intersected oil-saturated sandstones in the basal Toolachee Formation and also in the basal Patchawarra/Tirrawarra Sandstone with oil recoveries from drill stem tests of both intervals.

Innamincka has estimated the field to have a 24 million barrel in-place oil resource, but the company only expects recover about 20% per cent recovery of the in-place oil.

Juniper-2 is being drilled as part of Phase 3 of the three PEL103 joint venture 2005 program. It two kilometres north-west of Juniper-1 and is expected to spud on 10 May.

“Other wells to be drilled in the Phase 3 program include a Flax-2 appraisal well in PEL130 and Ginko-1, an exploration well in PEL101,” Innamincka said.

“Following Ginko-1, Santos is expected to undertake a further short drilling program north of PEL103 before the Innamincka Petroleum Phase 4 drilling program is undertaken later in the year.”

Participants in the PEL 103 Joint Venture are Innamincka Petroleum (Operator) 35% and Vernon E Faulconer Australia Inc 65%.