I missed this one last year rallied. This is my wishlist. I'm IN...

I missed this one last year rallied. This is my wishlist. I'm  IN next week.

Roc to spudFriday, 13 November 2015


Haydn Black


QUADRANT Energy has been handed control of the Noble Tom Prosser drilling rig, which will now mobilise to the Roc-1 location in the Bedout Sub-basin to spud one of the most watched wells of the year.





Junior partner Carnarvon Petroleum (20%) says the WA-437-P well should spud early next week, and should take around 40 days to drill, with the results of logging and sidewall coring likely to be known in January.




The well will target the same Lower Keraudren reservoir in which oil was discovered in the Phoenix South-1 well by the same joint venture partners in the adjoining WA-435-P while looking for gas.




Contingent on the success case, the plan is to re-enter the Roc-1 well bore in the third quarter for comprehensive testing (including flow testing) and coring.




The Roc prospect has a best estimate prospective resource of 42 million barrels, or 8.4MMbbl net to Carnarvon.




The junior has given it a 42% chance of geological success and is covered for its share of the drilling to a cap of $US70 million.




Beyond the Roc-1 well, the JV continues to workup the greater Phoenix area, 95% of which remains unexplored.




The JV is seeking to cover the majority of the Phoenix area with new 3D. The Capreolus 3D seismic acquisition and licensing is complete and the partners are also progressing with the interpretation of the Zeester 3D to define new prospects to north and west of the Phoenix South discovery.




The Phoenix South-1 well, drilled in 2014, was the first well to be drilled in the Bedout Sub-basin for almost 30 years and was only the eighth well in the basin.




It was the first oil offshore Triassic oil discovery on the North West Shelf.




The WA-437-P JV comprises Quadrant (40%), Carnarvon, JX Nippon (20%) and Finder Exploration (20%).