“Preliminary log interpretation indicates gas saturation of the Permian section,” Innamincka said.
The company is still conducting wireline logging operations.
The Ginko prospect is an anticlinal feature along the Coonatie-Lamdina structural trend cross-cutting the central Patchawarra Trough region. Innamincka estimated the potential trap area enclosed by the prospect at 9.3 square kilometres.
Innamincka has previously said that the prospect has the potential to reservoir 24 billion cubic feet of gas in place.
Proximity to nearby facilities should enable connection and production from a discovery at Ginko-1, the company said.
The ODE 30 rig will now pass to another operator before returning to Innamincka to drill three more exploration wells in the last quarter.
Participants in the PEL 101 Block Joint Venture are Innamincka Petroleum (operator) 37.5%, Vernon E Faulconer Australia Inc 37.5% and Mid Continent Equipment (Australia) Pty Ltd 25%.