not finished with ipm , page-13

PARSONS DRILLING

Gunyah-1 AND Perlubie-1 TO SPUD IN DECEMBER.
Hope we can get 1 out 2 from this.
Can add valuable future production revenue potentially 30 million for Gunyah-1 and 60 million Perlubie-1 with only a low drilling cost of about 1.5 million each.


The wells are targeting the Gunyah and
Perlubie prospects that lie 1.3 km and 2.6 km
respectively south of the Parsons-2 well that is
in the recently discovered Parsons Oil Field.
The prospects are covered by the same 3D
seismic survey that enabled the discovery of the
Parsons accumulations.
The wells are targeting a number of reservoirs
from the Namur down to the Poolowanna with
Gunyah-1 also testing a deeper large structural
target in the Kaladina. The total depth for the
wells is 2,050 metres for Gunyah-1 and 1,796
for Perlubie-1 with well costs of A$1.81 million
and A$1.61 million respectively.
The prospects have a combined volume of one
million barrels of oil in place (P50)1 at the
Namur Sandstone level with upside volume
potential if the other formations result in a
discovery.