The PEL 91 Joint Venture commenced a four-well exploration drilling program with the spudding of the Kalladeina-2 well, targeting an extension of the oil play trend north of the Bauer Oil Field.

Wireline logs and a drill stem test confirmed 5m of net oil pay across the McKinlay-Namur interval, resulting in Kalladeina-2 being cased and suspended as a new oil discovery and future oil producer.

The company estimates that the gross 2P Reserves for Kalladeina-2 are approximately 400,000 bbls. The second well in the program, Smoky-1, spudded on 28 April 2013 and is currently drilling ahead to its primary target in the Namur Sandstone. The estimated prospect size for Smokey-1 is 960,000 bbls (Mean estimate).

Tags: Drillsearch Energy