The well, located about 2.5km north-northeast of the 2004 Paranta-1 gas/condensate field discovery, will be Great Artesian’s fourth PEL 106 exploration well to be drilled since December.
Each of the three previous wells – Rossco-1, Udacha-1 and Middleton-1 – were cased and suspended as potential future gas/condensate discoveries.
Middleton-1, which produced more than 11 million cubic feet per day on test in March, was one of the largest gas flows to be recorded in the Cooper Basin in recent times, Great Artesian said.
The Sydney-based company will be fully carried through the drilling of Cadenza-1 by Energy Investments, a wholly owned subsidiary of privately held company Everdue.
The well will target an anti-clinal feature with the potential to host between 12 (P50) and 28 (P10) billion cubic feet of gas within several levels in the Patchawarra Formation.
Additional secondary potential will be targeted within the underlying Tirrawarra Formation.
Drilling is expected to take 21 days to reach a planned total depth of 3100m.
If commercially successful, both Great Artesian and Energy Investments will hold a 50% interest in the well.
Last October, Energy Investments funded the Paranta 3D Seismic Survey, which helped delineate the Cadenza-1 prospect.
