Since penetrating the top of the Middle Jurassic Plover Formation and intersecting a 10 metre sand that was interpreted to contain hydrocarbons late last week, the well has hit two additional hydrocarbon-bearing intervals of 67 metres and more than 114 metres. Karoon said the base of the lowermost interval had yet to be penetrated as of early this morning, adding that the shows would be evaluated further by analysis of all data on completion of drilling and wireline logging. Poseidon-1, which is being drilled by the Sedco-703 semi-submersible rig, is the first well of a six-well drilling program being carried out by the joint venture in WA-314-P, WA-315-P and WA-398-P.
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