Marcus-1, cored from 585mt to 1,041mt, is the first well to be drilled by QGC in ATP 574P in 2010 on the Marcus CSG Project.
A follow on exploration, coring and appraisal drilling program of a minimum of 12 wells is planned over the next 12 months to continue the evaluation of the Coal Seam Gas (CSG) bearing potential and deliverability of the Walloon Coal Measures.
The aim of this initial and planned follow on drilling over the next six months is to prove up an initial certifiable gross recoverable CSG reserve for ATP 574P by the end of June 2010. The Walloon coals in the permit are interpreted to have a potential CSG resource in place of up to 1,500PJ.
ATP 574P is interpreted to be situated in the Walloon Coal Seam Gas fairway on the western side of the Surat Basin. Victoria Petroleum holds a 30% interest in ATP 574P.
