Icon Energy Limited advises that the Geoffrey-1 well in ATP 855 (Icon 35.1%, Beach Energy Limited (Operator) 46.9%, and Chevron Australia Exploration 1 Pty Ltd ('Chevron') 18%) spudded on Monday 14 October 2013. Geoffrey-1, a vertical exploration well in ATP 855, will be drilled by the Ensign 916 rig to an expected depth of 4,266 metres and will further evaluate the shale and basin-centred gas play in the Toolachee, Daralingie, Roseneath, Epsilon, Murteree and Patchawarra Formation intervals within the Queensland portion of the Nappamerri Trough.
The Geoffrey-1 vertical exploration well will be:
◾ The most easterly petroleum exploration well within the ATP 855 permit;
◾ Located 36 kilometres to the north-east of Hervey-1;
◾ Evaluated over the entire Permian section down to the base of the Patchawarra Formation; and
◾ Cased and suspended pending subsequent hydraulic stimulation and flow testing through multiple zones.