Beach Petroleum and Cooper Energy have reported an oil flow at a rate of 1780 barrels per day, after a drill stem test of the Sellicks-1 well this morning.
The companies had earlier called a trading halt to their shares after opening strongly, Cooper bouncing to 16c before the end of trade after trading recommenced.
The oil took 13 minutes to flow to surface from the 11 metre zone at 2060 metres. Encouragingly for the partners, there was no sign of water and the wellhead pressure was steady at 177psi through a ½ inch choke.
The Sellicks well (Beach 75%, Cooper 25%) is located in PEL 92 in the Cooper / Eromanga Basin.
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