Santos confirms discovery in Browse basin offshore Australia

The Lasseter-1 exploration well offshore Western Australia in Browse basin has discovered gas and condensate.

Aug 25th, 2014

Offshore staff

ADELAIDE, Australia –The Lasseter-1 exploration well offshore Western Australia in Browse basin has discovered gas and condensate.

The well found a gross gas/condensate interval of 405 m (1,238 ft) and wireline logs confirm 78 m (256 ft) of net pay in Jurassic Lower Vulcan and Plover intervals between 4,880 and 5,285 m (16,006 and 17,335 ft) measured from below the rotary table.

TD of the well is 5,329 m (17,479 ft) MDRT 480 km (298 mi) north/northeast of Broome in 404 m (1,325 ft) of water.

The samples confirm good mobility in the higher porosity sands in the Lower Vulcan, says Santos. Multiple independent hydrocarbon columns are interpreted, including an estimated 250 m (820 ft) column for the Lower Vulcan reservoirs.

Multiple hydrocarbon samples have been recovered and the initial analysis confirms a condensate to gas ratio in the range of 10-25 bbls/MMscf and inerts consistent with proximal field gas compositions and pre-drill expectations.

The well will now be P&A’d as planned.

“The Lower Vulcan reservoir system, which is optimally developed between theIchthys and Poseidon structural trends, holds great promise,” said Bill Ovenden, Santos head of exploration.

Santos holds a 30% interest inWA-274-P and is the operator. Joint venture partners are Chevron (50%) and INPEX (20%).

8/25/14

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