Lakes Oil has advised that the drilling of the Nangwarry-1 exploration well in South Australia is proceeding on schedule.
The 13 3/8’ diameter surface casing was set and cemented to a measured depth of 799m last weekend.
Following pressure testing of the casting to confirm integrity, drilling recommenced on Monday December 9 and is, as of 6am today, drilling through the Eumeralla formation at 952m measured depth.
The Nangwarry-1 well is within Petroleum Exploration Licence (PEL) 155 in the South Australian portion of the onshore Otway Basin, 10km south of Katnook.
The well is targeting two prospective gas reservoirs, the Pretty Hill Sandstone at around 2993m measured depth and the Sawpit Sandstone at 4095m measured depth.
It is anticipated that the shallower Pretty Hill formation may be intersected in about 12 days’ time after intermediate casing is set to a depth of 2950m measured depth.
The Nangwarry-1 well is a 50:50 joint venture between Otway Energy (a subsidiary of Lakes Oil) and Vintage Energy.
The cost of the well is being partially funded through a $4.95 million grant under the South Australian Government’s petroleum accelerated exploration program (PACE).
In accordance with PACE grant conditions, the PEL 155 joint venture will strive to commence supply of gas to South Australian gas users by the end of 2020.