The company yesterday said the operation is now preparing to plug and abandon the well, which reached total depth of 1422m, after no hydrocarbon shows were observed while drilling or interpreted from wireline logs.
Following its release, the rig will move to the Telowie-1 location, which is expected to begin drilling later this week.
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.
Tunkalilla-1, in PEL 94, is in the southwest portion of the Cooper Basin where VicPet holds a 15% interest.
It is the third exploration well in the company’s planned 16-well Cooper Basin exploration drilling program this year.
Participants in the drilling of Tunkalilla-1 are Beach, which holds a 50% stake, Magellan Petroleum (35%) and VicPet.