Beach Energy Limited advises that Senex Energy Limited, operator of the Growler oil field on the Western Flank of the Cooper/Eromanga Basin, has reported a major reserves upgrade for the field in PEL 105/PRL15 (Beach 40%, Senex 60%).

Senex reported that the reserve upgrade is predominantly the result of the successful and continuing appraisal and development drilling of the Growler Field. The five completed wells of the program to date have all intersected an oil bearing reservoir in the Birkhead Formation, all of which were targeted using the amplitude response on 3D seismic data. The sixth well, Growler-10, is currently being drilled.

Although Beach has not yet had the opportunity to review the operator's post drill technical assessment of the recoverable reserves of the Growler Field, we would anticipate an increase in Beach's assessment of the proved and probable reserves from the field.

Tags: Beach Energy