Third Perth Basin offshore wildcat a duster

The Vindara-1 exploration well, drilling the northern offshore sector of the Perth Basin, has turned out to be duster.

Roc Oil, operator of the WA-286P Joint Venture, said operations are continuing, but no indications are of hydrocarbon have been recorded. Roc added once the well has reached its total depth, wireline logs will be run to fully evaluate the well.

The Ensco 53 jackup drilling rig will move back to the Cliff Head Oil Field to drill the Cliff Head-4 appraisal well.

Share investors have marked down the stock of the junior explorers drilling the well. Roc Oil was down 5c to $1.35, Voyager Energy was down 1c to 17c, ARC Energy was down 1c to 61c while Australian Worldwide Exploration was down 2c to 77c. Norwest remains trading at 6c.

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