Beach Energy discovers oil at Western Flank of Poolowanna Formation in Australia
Beach Energy has made an oil discovery on the Western Flank within the Poolowanna Formation in ex PEL 91 of Australia.
September-1 exploration targeted oil in a structural closure within the Namur Sandstone and it tested the McKinlay Member, Birkhead Formation and Poolowanna Formation as secondary targets.
The well intersected an 8m gross interval within the Poolowanna Formation. A drill stem test was also conducted over the interval 1,927.8m to 1,936m and recovered 15.2 barrels of approximately 42 degree API oil from the drill string over a 1.5 hour flow period. The flow rate was found to be 210 barrels of oil per day.
After the exploration, September-1 has been cased and suspended as a future oil producer.
This discovery puts Poolowanna Formation as an additional exploration target within the ex PEL 91 permit area. The results are currently evaluated and the company has planned further production testing to determine the resource size.
The company also announced further mapping of the Poolowanna oil play in fiscal year 2017 with potential near field exploration activities in fiscal year 2018.
Beach CEO Matt Kay said: “Beach has achieved two oil discoveries from the first two exploration wells of its FY17 operated drilling campaign.
“Importantly, discovery of oil in the Birkhead Formation at Kangaroo-1 and in the Poolowanna Formation at September-1 has proven additional play potential within PEL 91. This reinforces our confidence in the ongoing prospectivity of our Western Flank acreage.”