Beach Petroleum is set drill two new wells in licence PEL-106 in South Australia’s Cooper basin next month as part of an earlier farm-in agreement with Sydney-based junior Drillsearch Energy.
The wells will be the first wells to be drilled as a result of the information obtained from the extensive Spinel 3D seismic shoot carried out by Drillsearch offshoot Great Artesian last year and are directed at potential gas and condensate discoveries. Licence PEL-106 already holds a number of cased and suspended gas and condensate discoveries, including Middleton, Udacha, Paprika, Cadenza and Rossco. As part of the agreement, Beach will transfer the marketing of gas discoveries in the Beach farm-in block in PEL-106 and Middleton Block to Drillsearch. Beach will fully fund and drill two wells in the farm-in block, which is in the south-western quarter of PEL-106, and as a result, Beach will earn a 50% participating interest in the block. The two wells, Brownlow-1 and Canunda-1, will be drilled by the Ensign rig-30. Brownlow-1 will test a structural-stratigraphic trap updip to the Middleton gas discovery. Canunda-1 will test a separate four-way dip closure which lies updip to the Paprika gas discovery. Beach's drilling programme will also include the Gunyah-1 and Perlubie-1 wells in the highly prospective PEL-92 permit, where Beach holds a 75% stake and has consistently made a number of significant discoveries since 2002, including Sellicks, Parsons, Callawonga and Christies fields. Gunyah-1 and Perlubie-1 are targeting oil in the Namur sandstone, which reported flow rates on testing of more than 3000 barrels per day in the Parsons field. "The future potential of this western area continues to llok very positive, in our view. We have identified up to 100 prospects and leads using older 2D seismic surveys and these have now been followed up by large regional 3D seismic surveys," Beach's managing director Reg Nelson said in a statement today.
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