The Perth-based company yesterday said the well is drilling ahead at 226m and would be drilled to a planned total depth of 1405m. It is expected to take about seven days to drill.
The Tunkalilla Prospect is a four-way, dip-closed structure on the Milpera Horst, downdip of Maslins-1, which recovered oil from the Murta Formation. The nearest oil production is from the Dunoon Horst oil fields comprising, Harpoono and Revenue.
VicPet said these discovery wells are all oil-productive from the Murta Member. Harpoono-2 and Revenue-1 also intersected oil in the McKinlay/Namur Formation, while
Might & Power-1 was recently drilled and intersected a live oil column in the Murta.
Potential reserves for the Tunkalilla Prospect are 1.8 million barrels of recoverable oil, if oil is present.
VicPet said these oil flows, along with the shows in other nearby wells, demonstrate the potential that could exist for oil to occur in several reservoirs at the Tunkalilla-1 location.
“An oil discovery at Tunkalilla-1 would further confirm our belief in the known oil-producing potential of the northern part of the Cooper Basin, where Victoria Petroleum is the largest acreage holder,” managing director John Kopcheff said.
It is the third exploration well in the company’s planned 14-well 2007 Cooper Basin exploration drilling program.
Participants in the drilling of Tunkalilla-1 are Beach (50%), Magellan Petroleum (35%) and VicPet (15%).