KUALA LUMPUR, Malaysia – Hibiscus Petroleum subsidiary Carnarvon Hibiscus expects to spud the Sea Lion-1 exploratory well offshore Victoria, Australia, by Oct. 25.
The drilling rig West Telesto has demobilized from its previous assignment and will be handed over to Carnarvon Hibiscus next week.
The Sea Lion prospect is 6 km (3.7 mi) from the West Seahorse field. Drilling is expected to last around 30 days. In the event of a commercial discovery, there is potential for an integrated development with West Seahorse.
Carnarvon Hibiscus estimates recoverable resources in the range of 8-15 MMbbl of oil.
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