EMPIRE Energy has mobilised its Schlumberger drill rig to its Beetaloo Sub-basin site to spud well Carpentaria-1.
It plans to drill the well to 2900 metres then log, case and suspend it.
The work will represent "a major step forward in Empire's assessment of the eastern Beetaloo Sub-basin and the further appraisal of the known productive horizons within the thick Kyalla Shale and Velkerri Shale sequences," the company said today.
Santos and Origin Energy have found them to be productive in their respective wells, to the west of where Empire will drill.
The Schlumberger Land Rigs 183 will start drilling in the second half of the month.
Civil works including water bore drilling, upgrading the access track and preparing the well pad are ongoing. All work is being done by Northern Territory-based companies.
It will re-enter Carpentaria-1 after the wet season to carry out vertical fraccing and an extended production test.
The company raised $10 million via a placement last month.
The placement to institutional and sophisticated investors was offered at 30 cents per share, doubling its cash in the bank to A$20 million.
Independent certifiers Netherland Sewell and Associates gave its permit EP187 a best estimate prospective resource of 13.6 trillion cubic feet of gas, with 2.3Tcf in the Velkerri Shale and 14 million barrels of oil equivalent in the Kyalla shale.
Source: Energy News Bulletin
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