Carnarvon Petroleum Ltd (ASX:CVN) and partner Quadrant Energy have provided an update on drilling operations of the Roc-2 well, located on Australia’s North West Shelf.
The North West Shelf is Australia’s most prolific oil and gas region.
Carnarvon holds a 20% interest, with Quadrant 80% (operator).
Since the last report the 17 ½” (445 mm) hole has been drilled to 3,433 metres measured depth, just below the Cossigny marker, and the well is in the process of setting the 13 ⅝” (346 mm) intermediate casing.
Following the cementing of the 13 ⅝” casing, a further 850 metres of intermediate 12 ¼” (311 mm) hole will be drilled down to just above the primary Caley target, and a 9 ⅝” (245 mm) drilling liner will be placed across this open hole to enable the well to drill to its deeper targets.
The Roc-2 well has been designed to appraise and test the Roc-1 gas-condensate discovery revealed earlier in the year.
The well is required to delineate the extent of the Roc field, calibrate reservoir parameters, understand reservoir deliverability and characterise fluid properties.
Carnarvon said that at around 3,250 metres measured depth, a 10 metre section of elevated gas readings and moderate fluorescence was observed across a sandstone interbed within the Upper Keraudren, consistent with residual hydrocarbons.
Slightly deeper in the well, from around 3,360 metres measured depth, elevated gas readings and minor fluorescence were observed in the Cossigny limestone.
This hydrocarbon fluorescence has regional interest because it is the first case of hydrocarbons migrating above and within the Cossigny, and increases the exploration potential of the area.
The Huxley and Barret formations are expected to be encountered in the 12 ¼” hole section.
The Barret sands were oil charged at Phoenix South-1 well and water wet at Roc-1 well.
In the Roc-1 well, hydrocarbon shows were observed in the Huxley sands and further data on this potential reservoir section will expand the exploration portfolio outside this well, particularly for prospects outside this area such as Bandy.
The primary target for the Roc-2 well is the Caley sands which were gas and condensate charged in Roc-1.
Carnarvon added that this zone is expected to be cored late August or early September 2016.
Due to the nature of these operations, no information will be available to the joint venture during the coring process, which is anticipated to take 5-10 days.
Carnarvon remains well-funded with A$87.7 million held in cash plus future receivable up to US$31.3 million and A$8 million well carry.
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