KUALA LUMPUR: Hibiscus Petroleum Bhd
’s associate, 3D Energi Limited, has reported encouraging gas-bearing intervals at the Essington-1 exploration well in the offshore Otway Basin, Victoria.
In a filing to the Australian Stock Exchange (ASX), 3D Energi said wireline logs confirmed gas-charged sandstones in both the primary Waarre A and secondary Waarre C reservoirs.
The Waarre A interval showed 62.6 metres of gross gas-bearing section with 58.5 metres of net pay, while the Waarre C interval recorded 33.2 metres of gross gas-bearing section with 31.5 metres of net pay.
It added that a clear gas gradient in pressure data provides additional evidence of movable gas.
The Essington-1 well was drilled to a total depth of 2,735 metres without incident.
The company said Schlumberger’s Ora wireline formation testing will be carried out to assess reservoir mobility, confirm hydrocarbon composition and recover downhole gas samples.
Operator ConocoPhillips Australia holds 51% of the VIC/P79 permit, while 3D Energi and Korea National Oil Company hold 20% and 29% respectively.
“The early results from Essington-1 are very encouraging, with clear indications of gas-bearing sandstones in both the primary and secondary targets.
“While we remain appropriately cautious until formation testing is complete, these results are consistent with the comprehensive pre-drill technical evaluation undertaken by 3D Energi. We look forward to the upcoming Ora program to confirm gas composition and reservoir deliverability,” 3D Energi executive chairman Noel Newell said.
