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    Oz Vintage, Partner Spud Otway Basin Well


Drilling of Nangwarry-1 will be partially funded by a South Australian government grant.

by: Shardul Sharma

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Oz Vintage, Partner Spud Otway Basin Well

Australian explorer Vintage Energy December 2 announced that its joint venture partner, Otway Energy, has spudded the Nangwarry-1 well, located in the onshore Otway Basin.

“The planned total depth of the well is 4,350 metres with drilling and logging operations expected to take approximately 45 days and, if successful, will be tested for gas flow shortly after completion,” Vintage said.

The joint venture received a South Australian government grant of A$4.95mn (US$3.35mn) which will be used to partly fund the drilling of Nangwarry-1. The Nangwarry prospect has a best estimate gross prospective resource of 57bn ft3, Vintage said.

“The prospect has a chance of success of 38% and a high chance of development, with the potential to expedite commercialisation of any discovered gas due to the proximity to infrastructure that services local industry,” it added.