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The Perth-based company yesterday said the current operation is now nippling up blowout preventer stacks prior to drilling ahead.
Located on the southern flank of the Cooper Basin, the well will test a simple anticlinal structure on the northeastern end of the Milpera Horst.
The well is about 4.8km northeast of Maslins-1, which recovered oil from the Murta Member. It is the sixth exploration well in VicPet’s planned 16-well Cooper Basin exploration drilling program for this year.
Telowie-1 is programmed to drill to a total depth of 1367m below the rotary table.
The primary objective is the Namur Sandstone and the McKinlay Member with secondary potential in the Murta Member.
Beach assesses the mean potential resource in the Namur Sandstone at 2.1 million barrels (MMbbl) of oil.
VicPet said potential reserves for the Telowie Prospect are 6.6MMbbl of recoverable oil, if oil is present.
Participants in the drilling of Telowie-1 are Beach, which holds a 50% stake, Magellan Petroleum (35%) and VicPet (15%).
