OIL

Oil shows at Doriemus-1: Stuart

STUART Petroleum is preparing to run a drill stem test on its Doriemus-1 exploration well, in its...

Oil shows at Doriemus-1: Stuart

In a drilling report this morning, Stuart said the well - drilled to a depth of 1932 metres - has also encountered trace oil shows in the Murta, Namur, Westbourne and Birkhead formations.

These shows would be further evaluated by wireline logs and drill stem tests if required.

The well is targeting 2.5 million barrels of in-place oil and 32 billion cubic feet of in-place gas, both at the P10 level of confidence, in the Doriemus structure, which has a strong stratigraphic component.

Doriemus-1 is 2.1km east of the Santos-operated Packsaddle-Pondrinie gas field on an east-west faulted structural nose, on the eastern flank of the Packsaddle Ridge.

Stuart names its 100%-owned wells after Melbourne Cup-winning racehorses. Doriemus won the Caulfield Cup-Melbourne Cup double in 1995.

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