Outtrim East well completed, prelim tests predict pay

Carnarvon Petroleum has been advised by Outtrim East-1 well operator Quadrant Energy that drilling operations on the well have been completed and the rig will leave the location shortly.

Offshore staff

PERTH, Australia – Carnarvon Petroleum has been advised by Outtrim East-1 well operator Quadrant Energy that drilling operations on the well have been completed and the rig will leave the location shortly.

Early interpretation of fluorescence data indicates the well has discovered the presence of hydrocarbons in the target interval, the joint venture partner said, although noting that it will be several months before all lab results will be in.

The well drilled down to final depth of 1,441 m (4,724 ft), and completed a revised wireline logging program. The JV partners decided not to complete the full suite of logging activities, believing sufficient information has now been acquired to assess the well results to the extent planned.

As planned, a total of 91 m (298 ft) of core was cut with close to 100% of the core being recovered to surface. The core is now being transported to shore for evaluation at laboratories in Perth to determine the extent and quality of the net reservoir and estimate the in place and recoverable volumes in the Outtrim and Outtrim East structures.

The Outtrim East-1 well is located within the WA-155-P(1) exploration permit in the North West Shelf of Australia. The equity interest holders are: Carnarvon Petroleum 28.5%; Quadrant Energy (operator) 71.5%.

07/13/2016

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