|Onshore oil drilling - the Cooper Eromanga Basin.|
The well intersected gas pay in the Patchawarra zone, while Stuart revealed the well will comfortably be capable of producing in excess of 2000 barrels of oil per day from both the McKinlay and Birkhead zones respectively.
Worrior-2 is being cased and completed by the drilling rig and will be brought on line as an oil producer by month end. The Patchawarra gas zone will be produced at a future time.
Located in PEL 93, 55km south-west of Moomba interests in the Joint Venture are Stuart Petroleum (Operator) 70% and Cooper Energy 30%.
Drill stem tests last week on Christies-2, returned a flow rate of 528 barrels of oil per day (bopd) through a ¼ inch choke over a five metre interval between 1,636 – 1,641m in the Birkhead/Hutton Formation.
Two other new oil zone discoveries were made in the shallower Namur Sandstone in the past week.
Cooper Energy stock was up another six percent this morning settling at 26.5 cents.