Petsec Energy commenced drilling on 16 September 2015 on the Levert - St. John Farms, Inc. No. 1 well. The well is being drilled on the St. John Bayou exploration prospect located in St. Martin Parish, Louisiana and is located approximately 12 miles southeast of the city of Lafayette, Louisiana. Petsec Energy will operate the well.
The well is being drilled as a directional well to 14,175 feet Measured Depth/12,950 feet True Vertical Depth ('TVD') to test Oligocene age Fuselier, Foti, Marg Howeii, Camerina and Marg Tex sand reservoirs in a fault closure syncline separated from production in the Northeast flank of St. Martinville salt dome. The well is expected to take approximately 45 days to drill and evaluate.