Drillsearch Spuds Cooper Basin Gas Well

Drillsearch Energy has announced the beginning of a four-well wet gas exploration campaign in PEL 106B in Cooper Basin which commenced with the spudding of the first well, Coorabie-1. Drillsearch holds a 50% interest in PEL 106B and Beach Energy as Operator holds 50%.

The Coorabie-1 wet gas exploration well is located approx. 1.8km south east of the Canunda-1 wet gas discovery and 4.0km south, south east of the recent Coolawang-1 discovery. Its primary target is the intra-formational sands of the Permian Patchawarra Formation. The Toolachee Formation and Tirrawarra Sandstone are considered secondary targets for wet gas. Drilling will be to a total depth of 2,879mRT and is expected to take 14-18 days.

During the drilling of Haslam-1, Coolawang-1 and Admella-1 coal cores were cut to evaluate the unconventional gas potential of the coals. Although no cores are proposed in the current drilling programme, the wells will provide data on the coal extent and nature as well as providing input for this resource evaluation.

Coorabie-1 is estimated to have P10 High-side Gross Recoverable Prospective Resource potential of up to 31.57 BCF sales gas and associated hydrocarbon liquids.