BEACH ENERGY LIMITED For Immediate Release - 6 May 2015
Ref. #029/15
ASX Ltd
Companies Announcement Office
Electronic Lodgement System
Oil appraisal drilling successes in Callawonga and Pennington fields
Oil exploration success at ASH‐1X ST1 in Abu Sennan concession
Seven wells drilled with a success rate of 86%
AUSTRALIA - COOPER AND EROMANGA BASINS DEVELOPMENT
Ex PEL 92 (Beach 75% and operator, Cooper Energy 25%)Callawonga‐10 is the first of a two‐well development and appraisal campaign in the Callawonga Field. The Callawonga Field, located in PPL 220, is a low relief anticlinal structure on the western flank of the Patchawarra Trough, located approximately 85 kilometres west of Moomba. Following reprocessing of previously acquired 3D datasets, the campaign is being undertaken to appraise and accelerate oil production from the southern flank of the field. Callawonga‐10 reached total depth and subsequent to month end was cased and suspended as a future Namur oil producer. The well intersected a 3.3 metre gross oil column in the target Namur Sandstone and a 1.5 metre gross reservoir interval in the overlaying McKinlay Member.
South Australian Gas (Beach 20.21%, Santos 66.6% and operator, Origin 13.19%)
An evaluation of the Swan Lake Field, located approximately 30 kilometres north of Moomba, was undertaken in 2014 to assess current well performances, booked development and appraisal locations, and updated static and volumetric analyses. As a result of this review, a five‐well development and appraisal campaign targeting the Patchawarra Formation will be undertaken. Swan Lake‐13 is the first well of the campaign and reached total depth on 28 April 2015. Wireline logs are currently being run.
Monthly Drilling Report - April 2015
A two‐well pad development campaign targeting gas and gas liquids in the Patchawarra Formation and Tirrawarra Sandstone was completed in the Narie Field. The field is located in the south western area of the Patchawarra Trough, approximately 40 kilometres north of Moomba. The Merrimelia 3D seismic survey enhanced understanding of the field and resulted in drilling and testing of Narie‐3 in early 2014. Encouraging flow rates and test results indicated good reservoir qualities and low levels of depletion, suggesting potential for further field development and resulting in approval of the campaign. Narie‐4, the second well of the campaign, was drilled during April and cased and suspended as a future producer.
A three‐well pad development campaign was completed in the Coonatie Field (Beach 17.14%, Santos
72.32% and operator, Origin 10.54%), located approximately 80 kilometres north‐east of Moomba. The field is historically a gas and gas liquids producer from the Toolachee and Epsilon formations. However, recent reservoir studies and simulations identified potential for development of the Patchawarra Formation and Tirrawarra Sandstone. Coonatie‐23, the last well of the campaign, was drilled during April and cased and suspended as a future producer following intersection of reservoir columns in the target zones. Campaign results have provided encouragement for assessment of further down‐dip locations.
A four‐well development and appraisal campaign is underway in the Barrolka Field, located approximately 55 kilometres north of the Ballera plant. The primary objective of the campaign is to convert undeveloped reserves on the main culmination to developed reserves, within the Toolachee Formation. Barrolka‐17 and ‐16 are the third and fourth wells, respectively, of the campaign. Barrolka‐17 was cased and suspended as a future producer and Barrolka‐16 is drilling ahead. Results to date are in line with expectations and have provided encouragement for future appraisal of the Barrolka north and Barrolka north‐east culminations.
EXPLORATION AND APPRAISAL Ex PEL 91
(Beach 40% and operator, Drillsearch 60%)
Pennington‐4, located in PRL 163, is a standalone appraisal well drilled to assess upside potential of the Namur and Mid Namur reservoirs in the Pennington Field, with assessment of the lower Birkhead Formation a secondary objective. The well was drilled to appraise and develop the southern part of the oil bearing anticlinal structure, as intersected by Pennington‐1 and Pennington‐2. The well was cased and suspended as a future producer following the intersection of a 2.5 metre Namur oil
column, and a 4.2 metre gross oil bearing interval in the overlaying McKinlay Member.
Page 2 of 5
Monthly Drilling Report - April 2015
Ex PEL 92 (Beach 75% and operator, Cooper Energy 25%)The Perlubie‐3 oil appraisal well, located in PPL 247, targeted the Namur Sandstone and was drilled to appraise the northern area of the currently producing Perlubie Field. The well encountered approximately 1.1 metres of net pay in the Namur sandstone, but was plugged and abandoned due to the result being sub‐commercial.
EGYPT
Abu Sennan Concession (Beach 22%, Kuwait Energy 50% and operator, Dover 28%)
The ASH‐1X ST1 oil exploration well discovered hydrocarbons in the primary target Alam El Bueib
Formation. Testing over a 14 metre interval was conducted and achieved a flow rate equivalent to
3,900 bopd and 3.1 MMscfd of gas, through a 64/64" choke. Flow rates were calculated over a three hour period. Subsequent to month end, the ASH development lease was granted, enabling ASH‐1X ST1 to be brought online. This production is the first from deeper targets within the Abu Sennan concession and provides scope for further deep target exploration.
The ASA‐3 ST1 oil appraisal well reached total depth of 3,290 metres, with logging operations currently underway. ASA‐3 is located 0.5 kilometres south‐east from the ASA‐1 ST3 exploration well and is targeting the Abu Roash "C" and "E" formations.
Well | Participants | Progress and Summary | Primary Targets |
Callawonga‐10
PPL 220 (e x PEL92) Oi l de ve l o pme nt C/E Ba s i n , SA
Cooper Basin OperatedBPT* 75.00% Dril li ng thi s mo nth: 1,482 me tre s Na mu r Sa nds tone
COE 25.00% Cu rre nt De pth: 1,482 me tre s (tota l de pth) Sta tus : Runni ng producti on ca s i n g
Pennington‐4 | BPT* 40.00% DLS 60.00% | Dril li ng thi s mo nth: 1,836 me tre s Cu rre nt De pth: 1,836 me tre s (tota l de pth) Sta tu s : Ca s e d an d s u s pe nde d as a fu ture Na mu r Sa nds tone oi l produce r | Na mu r Sa nds tone Mi d Na mu r Sa nd s to n e |
PRL 163 ex PEL 91 Oi l a ppra i s a l C/E Ba s i n , SA | BPT* 40.00% DLS 60.00% | Dril li ng thi s mo nth: 1,836 me tre s Cu rre nt De pth: 1,836 me tre s (tota l de pth) Sta tu s : Ca s e d an d s u s pe nde d as a fu ture Na mu r Sa nds tone oi l produce r | Na mu r Sa nds tone Mi d Na mu r Sa nd s to n e |
Perlubie‐3 | BPT* 75.00% COE 25.00% | Dril li ng thi s mo nth: 839 me tre s Cu rre nt De pth: 1,427 me tre s (tota l de pth) Sta tu s : Pl u gge d an d ab a n do n e d | Na mu r Sa nds tone |
PPL 247 (e x PEL 92) Oi l a ppra i s a l C/E Ba s i n , SA | BPT* 75.00% COE 25.00% | Dril li ng thi s mo nth: 839 me tre s Cu rre nt De pth: 1,427 me tre s (tota l de pth) Sta tu s : Pl u gge d an d ab a n do n e d | Na mu r Sa nds tone |
Coonatie‐23
PPL 131
Ga s de ve l o pme n t
C/E Ba s i n , SA
Cooper Basin Non‐operatedBPT 17.14% Dri l l i ng thi s mo nth: 3,210 me tre s Pa tch a wa rra Forma ti o n STO* 72.32% Cu rre nt De pth: 3,210 me tre s (tota l de pth) Ti rra wa rra Sa nds to ne ORG 10.54% Sta tu s : Ca s e d an d s u s pe nde d as a fu ture Pe rmi a n ga s produce r
Narie‐4 | BPT 20.21% STO* 66.60% ORG 13.19% | Dri l l i ng thi s mo nth: 0 me tre s Cu rre nt De pth: 2,808 me tre s (tota l de pth) Sta tu s : Ca s e d an d s u s pe nde d as a fu ture Pe rmi a n ga s produce r | Pa tch a wa rra Forma ti o n Ti rra wa rra Sa nds to ne |
PPL 17 Ga s de ve l o pme n t C/E Ba s i n , SA | BPT 20.21% STO* 66.60% ORG 13.19% | Dri l l i ng thi s mo nth: 0 me tre s Cu rre nt De pth: 2,808 me tre s (tota l de pth) Sta tu s : Ca s e d an d s u s pe nde d as a fu ture Pe rmi a n ga s produce r | Pa tch a wa rra Forma ti o n Ti rra wa rra Sa nds to ne |
Page 3 of 5
Monthly Drilling Report - April 2015
Well | Participants | Progress and Summary | Primary Targets |
Swan Lake‐13
PPL 101
Ga s de ve l o pme n t
C/E Ba s i n , SA
Cooper Basin Non‐operatedBPT 20.21% Dri l l i ng thi s mo nth: 3,101 me tre s Pa tch a wa rra Forma ti o n
STO* 66.60% Cu rre nt De pth: 3,101 me tre s (tota l de pth) ORG 13.19% Sta tu s : Ru nn i ng wi re l i ne lo gs
Barrolka‐16 BPT 23.20% Dri l l i ng thi s mo nth: 2,702 me tre s To o l a ch e e Forma ti o n
PL 151 STO* 60.06% Cu rre nt De pth: 2,702 me tre s Ga s d e ve lo pme n t ORG 16.50% Statu s : Drill in g ahe a d C/E Ba s i n , QLD APL 0.24%
Barrolka‐17 BPT 23.20% Dri l l i ng thi s mo nth: 160 me tre s To o l a ch e e Forma ti o n
PL 151 STO* 60.06% Cu rre nt De pth: 2,707 me tre s (tota l de pth)
Ga s d e ve l o pme n t ORG 16.50% Sta tu s : Ca s e d an d s u s pe nde d as a fu ture Pe rmi a n ga s produce r
C/E Ba s i n , QLD
ASH‐1X ST1
Ab u Se nna n
Oi l expl ora ti o n
Egyp t, We s te rn De s e rt
ASA‐3 ST1
Ab u Se nna n
Oi l a ppra i s a l
Egyp t, We s te rn De s e rt
APL 0.24%
InternationalBPT 22.00% Dri l l i ng thi s mo nth: 0 me tre s Al a m El Bu e i b /Kh atatb a , KEE* 50.00% Cu rre nt De pth: 4,777 me tre s (tota l de pth) Ab u Ro a s h C, E
DOV 28.00% Sta tu s : Ca s e d an d s u s pe nde d as a fu ture Al a m El Bu e i b
Fo rma ti on oi l produce r
BPT 22.00% Dri l l i ng thi s mo nth: 712 me tre s Ab u Ro a s h C, E KEE* 50.00% Cu rre nt De pth: 3,290 me tre s (tota l de pth)
DOV 28.00% Sta tu s : Ru nn i ng wi re l i ne lo gs
( * ) Opera tor | APL Aus tral i a Pa ci fi c LNG Ltd | KEE Kuwai t Energy Egypt Ltd |
BPT Bea ch Energy Ltd COE Cooper Energy Ltd | DLS Dril lsea rch Energy Ltd DOV Dover Inves tments Ltd | ORG Origin Energy Ltd STO Santos Ltd |
Page 4 of 5
Monthly Drilling Report - April 2015
Neil Gibbins
Chief Operating Officer
For more information, contact the following on +61 8 8338 2833
Corporate
Neil Gibbins Chief Operating Officer
Chris Jamieson Group Executive External Affairs
Derek Piper Investor Relations Manager
Page 5 of 5
|
distributed by
|
