Planet Gas (ASX:PGS) and Senex Energy (ASX:SXY) have spudded the Hathi-1 exploration well in South Australia’s Cooper Basin to test the oil potential of the Tinchoo Formation.
Senex is free carrying Planet Gas, which has a 20% interest in PEL 514, through drilling and completion of Hathi-1 and the follow-up Bagheera East-1 wells.
Hathi-1 is located about 19 kilometres northeast of the Tarragon Oilfield and is mapped as a four-way closure at multiple horizons using data from the recently recorded Dundinna 3D seismic survey.
It will be drilled to a total depth of about 2,530 metres and will also test the Poolowanna and Birkhead Formations and the Hutton Sandstone as secondary targets.
Hathi-1 will be followed by the Bagheera East-1 well about 10 kilometres to the northeast.
Bagheera East prospect is a structural trap mapped as a four-way dip closure.
It will also test the Tinchoo Formation with the Poolowanna and Birkhead Formations and the Hutton Sandstone as secondary targets.
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