Magellan goes trans-Tasman in drilling program

Magellan Petroleum is about to begin a seven well Australasian drilling program that will appraise a number of prospects in the Taranaki, Cooper and Eromonga Basins.

Indo-Pacific Energy, the operator of the PEP 38753 joint venture in the onshore Taranaki Basin (Magellan 25% interest), has mobilised the South Pacific Drilling Limited Rig 1 to drill the Wawiri-1 exploration well to target an oil play in the Mount Messenger Formation.

Wawiri-1 will be immediately followed by a second Taranaki Basin well, Bluff-1 in exploration permit PEP 38746, which will also target oil in the Mount Messenger Formation.

In Australia, Magellan will participate in five wells in the South Australian and Queensland portions of the Cooper-Eromanga Basins.

In South Australia, the Semaphore-1 (PEL 110 - Magellan 37.5%), Waitpinga-1 (PEL 94 - Magellan 50%) and Seacliff-1 (PEL 95 - Magellan 50%) wells will be drilled by the joint venture operator, Beach Petroleum, in October and November.

In the southwest Queensland sector of the Eromanga Basin, Magellan will participate in two wells in the recently acquired permits, PL 51 and ATP 267 P (Magellan - 40.936%) in the Nockatunga area.

The operator, Santos, is scheduled to drill the Thungo-8 infill development well to access un-drained oil reserves in the Thungo oil field and has proposed the Callisto-1 exploration well in ATP 267 P to target the Hutton Sandstone and Permian sections.

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