DRILLING

Anson North looking dry.

Word on the street is that Anadarko’s Anson North well has come up a duster. With juniors West Oil and Indo Pacific having equity, the failure of the well makes a disappointing run of three dry holes in the Ashmore Cartier region of NW Australia in recent times.

Sebring and Sleeper were the other two preceding wells which failed to find commercial hydrocarbons in the province. This contracts with the recent successes in the Perth Basin – Cliff Head, Hovea and Beharra Springs North.

The Anson North well, in AC-P26, is said to have been ‘stone, motherless dry’, which surprised the exploration sector, as the well was expected to be analogous to the nearby Talbot discovery.

West Oil dropped 12% after opening at 4c in early trade on heavy volumes.

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