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BEACH ENERGY LIMITED — Capital/Financing Update 2012
Jan 16, 2012
64558_rns_2012-01-16_2c41d668-d325-41a1-8415-77b99d509028.pdf
Capital/Financing Update
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ASX Announcement
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Successful Growler-7 appraisal well further extends mapped limits of the western flank Growler oil field
Release Date: 17 January 2012
Successful appraisal drilling at Growler-7 in permit PRL 15 has further extended the mapped limits of the Growler oil field in the western flank of the South Australian Cooper Basin according to Operator of the joint venture, Senex Energy Limited (Senex).
After reaching a total depth of 1,850 metres on 12 January 2012, the Growler-7 appraisal well was cased and suspended as a future production well.
Wire line logs confirmed the presence of a 20 metre gross oil column in the Birkhead Formation over the interval 1,720.5 to 1,740.5 metres with interpreted net oil pay of at least 18.8 metres.
Senex Managing Director Ian Davies said Growler-7 built on the successful Growler-9 appraisal well, which extended the eastern edge of the Growler oil field in November 2011.
“The result at Growler-7 indicates that the western limb of the Growler oil field may be as productive as the eastern limb. The net pay is particularly exciting as it is the thickest oil column in the Growler oil field to date,” he said.
The Growler-7 well is expected to be brought online as an oil producer in early February 2012.
Growler-7 is the fifth well in the Joint Venture’s 11 well exploration and appraisal drilling program in PRL 15 and PEL 104, in the highly prospective Birkhead channel play on the western flank of the South Australian Cooper Basin.
Ensign Rig #48 will now move to the Spitfire-1 exploration well targeting the mid-Birkhead Formation in a separate stratigraphic channel to the west of the Growler field.
Senex Energy holds a 60% interest in PRL 15 and is Operator of the joint venture, with the remaining 40% interest held by Beach Energy Limited.
For further information contact:
Ian Davies Managing Director Senex Energy Limited Phone: (07) 3837 9900
Senex Energy Limited Head Office ABN 50 008 942 827 Level 11, 144 Edward St, Brisbane Qld 4000 T +61 7 3837 9900 GPO Box 2233, Brisbane Qld 4001 F +61 7 3837 9999
[email protected] senexenergy.com.au
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ASX Announcement
Figure 1: Growler-7 well location
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Senex Energy Limited Head Office ABN 50 008 942 827 Level 11, 144 Edward St, Brisbane Qld 4000 GPO Box 2233, Brisbane Qld 4001
T +61 7 3837 9900 F +61 7 3837 9999
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senexenergy.com.au