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Planet Gas provides statement of oil reserves for the Sprigg field, PEL 514


Published Aug 21, 2013
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Planet Gas Limited

The Directors of Planet Gas Limited ('Planet Gas' or 'the Company') are pleased to announce initial oil reserve estimates for the Sprigg field located within PEL 514 in the South Australian Cooper Basin.

The estimates were independently completed by DeGolyer and MacNaughton of Dallas Texas, USA.

The Sprigg field is located in the central eastern sector of PEL 514. Planet Gas holds a 20% project interest while Senex Energy Limited ('Senex'), holds an 80% interest and is the operator. The Sprigg field lies immediately to the west of the Acrasia production field also operated by Senex.

The Sprigg field oil reserves lie entirely within the Tinchoo Formation with previous drilling in the vicinity confirming the presence of moveable hydrocarbons.

Tags: Planet Gas Limited




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