Thursday, 4 December 2014

Drillsearch - November Drilling Report - 05/12/2014

Drillsearch - November Drilling Report

• Six successful wells delivered during November including two wet gas
discoveries
• Oil Business:
- Four new development wells cased and suspended in PEL 91
• Wet Gas Business:
- Varanus South-1 discovery in PEL 513 in the Western Cooper Wet Gas
project area, the first by the new joint venture with Santos
- Maupertuis-1 cased and suspended on a sole risk basis by Drillsearch as
a discovery in PEL 106
- Vanessa-1 production test begins in PEL 182
• Unconventional Business:
- Fourth well in the ATP 940 drilling campaign spudded at Amidala-1
- Hydraulic stimulation campaign restarts at Anakin-1

Oil Business

Western Flank Oil Fairway - PELs 91 and 182 The Bauer development drilling campaign in
PEL 91 (Drillsearch 60% and Beach 40% and Operator) continued with a further four wells cased and suspended during November, following the drilling of Bauer-14 in October. Bauer-15 was drilled in the northerly section of the field and was cased and suspended as a future producer.

Bauer-16, -17, -18, and -19 are deviated wells from a single pad location in the central
part of the Bauer field. Given the close proximity of these wells a pad drilling approach was implemented eliminating the need for rig re-mobilisation. A ‘sideways walk’ of the rig achieves savings in terms of footprint, drilling time and costs.

By 1 December, Bauer-16, -17 and -19 had all been cased and suspended as future
producers, while the last well to be completed, Bauer-18, is due to reach total depth in the coming days. All of these development wells will be connected into the Bauer production facility in due course.

Following Bauer-18, the next development well to be drilled will be Hanson-2 which is expected to spud in mid-January 2015.

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