The Burrum-1 well, the first of two coal seam gas exploration wells, spudded in ATP 613P in the Maryborough Basin of southeast Queensland on 28 February. The wells are designed to evaluate the coal seam potential of the previously unexplored Burrum Coal Measures in the northern portion of the Burrum Syncline. Burrum-1 was drilled to a total depth of 438 metres.
Several coal seams were intersected and sampled for desorption analysis.
Eureka Petroleum, a wholly-owned subsidiary of Energy Investments Limited, is funding 100% of a two-staged coal seam gas exploration program, in return for which it will be assigned a 90% working interest in the Burrum Syncline farmin area. Stage 1 comprises the current two-well program. Magellan has the right to back-in to retain up to a 50% participating interest in any development by matching Eureka’s prior expenditures.
Burrum-1 Details: Petroleum Title: ATP 613P Queensland Location: Approximately 2 km northeast of the township of Howard and approximately 55 km north of the city of Maryborough Coordinates: MGA 94 56457757E 7201151S JV Operator: Magellan Petroleum Corporation Drilling Rig: Depco Rig 22 - UDR 1200 Total Depth: 438 metres Objectives: Coals of the Burrum Coal Measures Operations for period: Burrum-1 spudded on 28 February 2007 and was drilled in open hole to a depth of 252 m. The well was then fully cored to the Total Depth of 438 m. Wireline logs were run to further evaluate the coal seams intersected, particularly those in the open-hole section. The well will be plugged and abandoned as planned. Progress for Period: 438 metres. Participants in Burrum-1 are:Magellan Petroleum Corporation (Operator) 10% Energy Investments Limited 90%
QGC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
