Wire line formation sampling is in progress to obtain oil samples from the oil column for production engineering data.
The forward plan for Snatcher-1 is to complete the well as a producer with the Century Rig 3 drilling rig and then move the rig to the Snatcher-2 exploration well location, 899 meters to the north west of Snatcher-1.
Snatcher-1 was a successful test of the oil bearing potential of the Snatcher Prospect adjacent to the Santos Limited operated Charo field in PPL 177. The PPL 177 license is wholly contained within PEL 111.
Commenting on the oil discovery at Snatcher-1, Victoria Petroleum Managing Director John Kopcheff said:
“Victoria Petroleum is very pleased that Snatcher-1 has come in as an oil discovery with a significant oil column found. We look forward to the results of the production testing to be carried out in mid July.
The Joint Venture is very encouraged by the good result of Snatcher-1 and so has decided to immediately drill the Snatcher-2 well with this drilling rig to further evaluate the oil bearing potential of this part of PEL 111.”
The participants in the drilling of Snatcher-1, Snatcher-2, and PEL 111 and their respective interests through their wholly owned subsidiaries are as follows: Victoria Petroleum (operator) 40%, Impress Energy Limited 40%, Permian Oil Pty Ltd. 20%.
