Norwest ready for Perth spud Published: 28 February 2011 04:16 GMT | Last updated: 28 February 2011 04:16 GMT
Australian explorer Norwest Energy expects to spud the Red Hill South-1 well today in permit TP/15 in the North Perth basin, Western Australia.
Norwest said the well would be drilled to a total depth of 1910 metres to test the late Permian Dongara sandstone reservoir, which lies at a depth of about 1580 metres.
It added the prospect had the potential to hold about 34 million barrels of oil in place and 9 million barrels recoverable.
The well is expected to take about 12 days to drill and a further four days to evaluate, which may be extended if hydrocarbons are discovered.
Norwest holds a 50:50 stake in the Red Hill South prospect along with Indian explorer Bharat PetroResources.
Ends.
NWE Price at posting:
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