Key Petroleum Limited says that since its last report the hole at Dunnart-2 well in EP437, Perth Basin, Western Australia, was circulated clean and an open hole drill stem test (DST) was conducted over a 42.6 foot (13 meter) section.

The DST tool encountered a mechanical failure so the decision was made to drill to total depth (TD) and log the well. On retrieving the DST tools to the surface the tool was found to contain some good quality Bookara Sandstone that fluoresced under UV light, indicative of live oil.

A mechanical failure means that the test was invalid and was not related to any issues with the reservoir or interval drilled to date. Since retrieving the test tools the well has been drilled to a TD of 2,198 feet (670 meters) rotary table (RT). Further oil shows, including a lower reservoir quality interval above the basement had oil shows and will be evaluated from wireline logs.

Tags: Key Petroleum Ltd.