Vintage Energy has reached the total depth at the Odin-1 exploration well as part of its Cooper Basin drilling program, South Australia.
The company reached a total depth of 3140 metres on Wednesday at 8.20pm, with extensive gas shows encountered in sandstones through the primary target Toolachee and Patchawarra formations, as well as a basal sand in the Epsilon Formation.
Operations are now focused on conditioning the hole prior to running the wireline evaluation program to further investigate the gas shows.
Results from this wireline evaluation will be communicated to the market once complete.
Odin-1 is being drilled to address a fault bounded Patchawarra Formation closure, up dip of Strathmount-1, a well drilled in 1987 and plugged and abandoned after discovering what was then considered a non-commercial hydrocarbon accumulation.
Strathmount-1 is now interpreted to have conventional gas pay in the Toolachee Formation and both conventional and low permeability gas pay in the Patchawarra Formation.
Earlier this month managing director Neil Gibbins said that the joint venture had approved the drilling of the third Vali gas field well, Vali-3, located in Queensland.
The well is fully funded and will commence once the SLR184 drill rig has finished at Odin-1.
“This is a very exciting phase for Vintage as we look to shore up a multi-well field at Vali and test a new prospect with Odin-1. To date we have delivered success on the five wells with which we have been involved (Vali-1 ST1, Vali-2, Nangwarry-1, Albany-1 ST1 and Albany-2) which is an outstanding result for any junior explorer,” Gibbins said.