Progress
Since the last report the well has been drilled down to a total depth of 5,290 metres measured depth and the rig is preparing to run wireline logging tools. It is expected that wireline operations, including wireline formation testing, will be undertaken over the next seven to ten days.
Comments
During the deepening of the well over the past week several sands with positive indications of hydrocarbons were intersected in the deeper Milne sections of the well. These will also be investigated with the more detailed formation evaluation provided for with wireline logging along with the shallower Caley sandstone where the Company confirmed hydrocarbons previously.
While these deeper Milne sands are not interpreted to be commercially significant within the Roc structure in this well, the existence of reservoir and hydrocarbons at this depth are positive signals for the shallower and larger Dorado structure that was outlined during the recent Good Oil conference.
The Roc-2 well is located within the WA-437-P exploration permit in the North West Shelf of Australia. The equity interest holders are:
Carnarvon Petroleum 20%
Quadrant Energy (Operator) 80%
