The program, subject to final approvals, includes the drilling of two wells including Hathi-1 and Bagheera East-1.
Located in the northwest of PEL 514, situated 19km northeast of the Tarragon Oil Field and the Bagheera East-1, the Hathi-1 vertical exploration well is planned to be drilled to a total depth of approximately 8,300ft.
Using data from the recently recorded Dundinna 3D seismic survey, the Hathi prospect has been mapped as a four-way closure at multiple horizons.
Located in the northwest of PEL 514, approximately 10km northeast of Hathi-1, the Bagheera East-1 vertical exploration well is scheduled to be drilled to a total depth of approximately 8,235ft.
Both the wells will test the oil potential of the Tinchoo Formation with the Poolowanna and Birkhead Formations and the Hutton Sandstone as secondary targets.
The drilling program is part of a second farm-in agreement signed in May 2013 with Senex Energy.
Senex is the operator of the PEL 514, holding 80% project interest, while Planet Gas holds the remaining 20% interest.
