PEL 471 contains a number of petroleum leads, including Jupiter North, a structural closure that is up-dip of gas shows in the Jupiter-1 well.
Following the drilling of Nyngynderry-1 in late 2008, our review of prospectivity failed to identify any remaining petroleum potential in the PEL 8 license area and, as a result, Orion Petroleum is the process of surrendering that license.
In other news, Orion Petroleum anticipates that Eastern Star Gas will complete stages 1 and 2 of its farm-in to PELs 6, 427 and 428 with the drilling of two coal seam gas (CSG) coreholes in the southern area of PEL 6. The coreholes will target coal units of Triassic and Permian age.
Drilling operations, which are subject to approvals and rig availability, are planned to commence in the second half of 2009.
