Drillsearch Energy

Latest Drillsearch Energy News

• Initial gross production has commenced at a rate of 800 bbls per day (480 bbls net to Drillsearch).

• Southend-1 completes the current Western Wet Gas Fairway exploration campaign which targeted the Patchawarra and Tirrawarra Formations located on the Western Flank of the South Australian Cooper Basin

• Drillsearch has undertaken and completed the Native Title 'right to negotiate' process and can now proceed to grant.

• The Joint Venture sees an opportunity to combine light oil and wet gas discovery with the Middleton-Brownlow Wet Gas field thus utilising its existing infrastructure to fast track production.

• Operations are currently underway to case and suspend the well for cased-hole extended production testing to further evaluate Patchawarra Formation wet gas bearing sands.

• Haslam-1 will be drilled as a conventional vertical well with wireline logging and possible testing planned after the well reaches total depth.

• Independent review confirms Western Flank Oil Discoveries Reserve increase
• Company 2P Reserves increase to 11.3 MMboe - 33% increase on FYE 2011.
• Bauer Oil Discovery larger than original estimate with significant upside.
• Additional Birkhead Reserve potential from Arno, Basham and New Wet Gas Discoveries.

• MEO was awarded WA-454-P on 14th June 2011 as part of the 2010 gazettal round.

• Beach Energy has discovered gas, flowing at 4.5 MMscfd, and gas liquids, in its Coolawang-1 exploration well in PEL 106B on the Western Flank of the Cooper Basin.

• Coolawang-1 was the third well in the Western Wet Gas Fairway exploration program.

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