"The intention is to acquire seismic by April 2018, followed by further drilling. There is already interest from contractors in the mixed onshore and transition zone seismic study with some "competitive" quotes being presented."
The best bit though:
"The follow-up well at Xanadu would most likely be drilled updip of the original location, from the same pad, with the expectation that the better quality sands would be penetrated above the inferred oil-water contact.
Cliff Head-1 encountered a 4.8m oil column and after side-tracking encountered much thicker sands and the hope is that the side-track Xanadu well will replicate that experience and locate the crest of the structure.
Assuming a commercial flow rate is established, the well will be completed and the oil could then be trucked 12km down the road to JV partner Triangle Energy's underutilised Arrowsmith stabilisation plant.
It is possible that in this scenario, commercial production could commence within 12 months of drilling the well, Robertson said."
NWE Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
