Icon to Drill Onshore Surat Basin, Queensland

Icon Energy plans to drill the North Maroon DW-1 well in ATP 626P to test the oil and gas potential of the Precipice sandstone and Evergreen formation in the onshore Surat basin, Queensland.

The well also has a secondary objective to evaluate the potential of coalbed methane production from the Walloon coal measures.

The drilling rig Atlas Rig-1 is expected to arrive on site on Wednesday, with drilling scheduled to commence on Thursday depending on weather. The well is expected to take about 21 days to reach a deviated depth of 2100 metres.

Icon holds a 100% interest in the North Maroon DW-1 well.

Icon also announced it planned to carry out further CBM appraisal work in the new year with the drilling of Eolus-1 and Windom-1 wells.