Eagle Bay plays it safe in PEL 182

OPERATOR Eagle Bay Resources has decided to delay further drilling in its PEL 182 permit after the current well reaches total depth as a consultant moves to further de-risk the next two wells in the program.

Eagle Bay is currently drilling the program’s second exploration well, Vanessa-1, ahead to a total depth of 3250m.

The well, which spudded on May 12, was yesterday at a depth of 2513m in the Poolowanna Formation.

Eagle Bay said no hydrocarbon shows have been recorded so far during drilling.

The first well, Sarahlyn-1, was plugged and abandoned after wireline logs confirmed it was sub-commercial.

Now the joint venture has contracted ISIS Petroleum Consultants to further de-risk the next two wells in the campaign, Jasmine-1 and Michelle-1, with seismic remapping and reprocessing.

This means drilling of the two wells will be delayed by a further few months.

The PEL 182 JV comprises Audax Resources with a 49.9% stake, Eagle Bay (operator with 37.6%), Dome Resources (7.5%) and Australian Oil (5%).

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