Sydney, 26 April 2018: Cooper Basin focused oil & gas exploration company Real Energy Corporation Limited (ASX: RLE) (“Real Energy”) is pleased to provide a weekly drilling update of the Company’s Tamarama-2 well.
Since the last weekly report, the well was drilled from 1,900 metres MDRT (measured depth below rotary table) to the depth of 2,422 metres MDRT, as at 6.00 am EST on 26th April 2018, and is drilling ahead within the Patchawarra Formation target section in the 6-1/8” hole.
Based on the preliminary information from drill cuttings and mud log gas readings, the Toolachee Formation was encountered at around 2,342.75 metres MDRT (2,181.1 metres subsea True Vertical Depth) and the Patchawarra Formation was encountered at around 2,390 metres MDRT (2,382.3 m SS TVD) which are approximately 29 metres updip from the Tamarama-1 Toolachee Formation and Patchawarra Formation tops. Elevated gas readings have been recorded over the Toolachee Formation and so far with several gas peaks over the numerous sandstone intervals. The intervals with notably high gas readings are:
2342–2349 m MDRT: SANDSTONE, SILTSTONE and COAL with gas peak of 81.9 units over the background gas of 22.6 units;
2349–2367 m MDRT: SANDSTONE with MINOR interbedded SILTSTONE and COAL with gas peak of 113.4 units over the background gas of 13.2 units;
2379–2388 m MDRT: SANDSTONE and SILTSTONE with gas peak of 123.1 units over the background gas of 32.9 units;
2397-2407 m MDRT: SANDSTONE with minor SILTSTONE and COAL with gas peak of 61.8 units over the background gas of 15.8 units.
The significance of these gas shows will be further evaluated by electric logs to be undertaken after reaching the total depth, currently predicted at approximately 2600 metres MDRT.
Managing Director of Real Energy Mr Scott Brown commented “While we are still drilling and later will be running electric logs and evaluating the significance of the gas shows seen in the well, Tamarama-2 appears to be a very encouraging result and is consistent with the pre-drilled prediction.”
Tamarama-2 has surface location approximately 925 metres ESE from Tamarama-1 and is being drilled as a deviated hole to penetrate the mid-target reservoir at approximately 640 metres ESE from Tamarama-1 vertical well. The well has been specifically designed to optimise subsequent fracture stimulations of the Permian Toolachee-Patchawarra gas reservoirs.
RLE Price at posting:
9.9¢ Sentiment: Buy Disclosure: Held
