Tangiers, Pancontinental pull out of Cooper-Eromanga block

TANGIERS Petroleum and Pancontinental Oil and Gas have decided to surrender the ATP 587P Cooper-Eromanga permit after recent remapping increased the risk profile of the Irriculla-2 well.

Irriculla-2 was scheduled to be drilled later this year to test the Eromanga sequence close to the margin of the underlying Cooper Basin in a fault trap adjacent to oil shows in the Irriculla-1 well.