Senex Energy Limited says that the Martlet-1 exploration well on the western flank of the South Australian Cooper-Eromanga Basinhas encountered a Namur oil accumulation.
The Martlet-1 exploration well is located in PEL 104 (Senex 60% and operator, Beach Energy Limited (ASX: BPT) 40%), approximately 1.8 kilometres south east of the Warhawk-1 exploration well. The well was designed to evaluate the oil potential of the Namur sandstone within an interpreted four-way dip-closed structure. EDA Rig 3 commenced drilling the well on 24 August 2014 and reached total depth of 2,096 metres on 9 September 2014.
Martlet-1 encountered good oil shows in the target reservoir and subsequent evaluation of logs indicate net pay of up to 6 metres. The well is currently being cased and suspended and is expected to be placed on production in the next quarter.