Drillsearch Energy Limited announce a new oil discovery at the Kalladeina-2 well with wireline logs confirming a McKinlay-Namur oil pay zone. Kalladeina-2 was drilled by the PEL 91 Joint Venture (Drillsearch 60% and Beach Energy as Operator 40%) and has been cased and suspended as a new oil discovery and future oil producer.

The Kalladeina-2 exploration well encountered a net oil column of 4 metres in the McKinlay Sandstone, contiguous with a net oil column of 1 metre in the Namur Sandstone. A Drill Stem Test (DST) was undertaken over the McKinlay interval and produced the equivalent of 986 barrels of oil per day with no associated water.

Drillsearch believes recoverable 2P oil reserves are likely to be in the region of 400,000 barrels based upon the McKinlay and Namur oil pay intervals.

The Kalladeina-2 well is the first success of a four well exploration program and is located 12.4km northeast of the successful Bauer oil discovery and 170 metres from the Kalladeina-1 well which was drilled in 1967.

Tags: Drillsearch Energy