Mosaic told the ASX it would act as operator with an 83.3% interest in the PL 213 Churchie West Joint Venture, while Santos would hold 16.6%.
Last December, Mosaic and Santos discovered a new gas pool in the Churchie field after their Myall Creek-5 well flowed at 21 million cubic feet of gas per day from the Rewan Sands.
The success of Myall Creek-5, located about half a kilometre from PL 192, reinforced Mosaic’s earlier appraisal of the Rewan Formation in the Churchie area from 2001.
As part of this year’s program, Mosaic plans to drill a Churchie well to test the potential of the Rewan sands.
The Churchie JV comprises Mosaic, the operator which holds as 49% stake and Santos (51%).
