The company says the well, which yesterday reached a total depth of 2687 metres, intersected a very thin, or possibly absent, Tirrawarra Sandstone reservoir overlaying the Merrimelia Formation across the interval 2610m – 2627.4m.
“The test failed to flow or recover hydrocarbons during a two-hour flow period, however analysis of the DST data confirms the presence of hydrocarbons in the tested interval,” Innamincka said.
It said initial wireline log interpretation indicated the presence of a hydrocarbon column in non-reservoir quality Merrimelia Formation.
Before setting abandonment plugs, Innamincka will complete its current wireline logging operations and run in hole.
PEL 103 joint venture partners are: Innamincka Petroleum Limited (operator - 35%); Vernon E Faulconer Australia Inc (65%); and Avery Resources Inc (0% - farming in for 25% working interest subject to terms of a farmin agreement).