Petsec Energy advised that the Hebert Abstract Co. # 1 well ( Hebert # 1 well), spud on 27 November 2014, and drilled on the Southwest Holmwood Prospect in Calcasieu Parish, Louisiana, has reached planned Total Depth ('TD') of 12,000 feet (3,658 metres) and has been logged and evaluated.
The vertical well was drilled to test a fault closure immediately South of the Southwest Holmwood gas/condensate Field and on the east flank of the Lake Charles Field. The well intersected the objective Marg Tex sand, however the reservoir sand package was thicker than expected and was not adequately fault sealed from the adjacent Southwest Holmwood Field. The well encountered insufficient productive hydrocarbons to warrant completion of the well. The well will now be plugged and abandoned and no further exploration planned for the prospect.