Spudded on December 16, the Culverin-1 well is located in Vic/P56 in the offshore Gippsland Basin, Victoria.
At 6am this morning (Melbourne time), the well was drilling ahead at a depth of 3195 meters in 12¼-inch hole towards the second, lower prospect – Scimitar.
“Future operations are to continue drilling to a planned total depth of 3612 meters to test the full potential of the Scimitar prospect,” Nexus said.
Scimitar is a prospect which underlies the Culverin prospect at the deeper Intra Latrobe level and is also defined on 3D seismic data. It is analogous to the Basker Manta fields which lie some 10 kilometres to the north and is expected to contain a mixture of oil and gas. It has the potential to contain mean oil reserves of 63 million barrels.”
Joint Venture interests in Vic/P56 and the adjacent Vic/P49 permit areas are: Nexus Energy Limited (operator) 40%, Korea National Oil Corporation 30%, Seoul City Gas Company Ltd. 20% and Anzon Australia Limited 10%.