Source: Beach Energy
Beach Energy is currently drilling for shale gas in the Cooper Basin onshore Australia. Holdfast-1 (Beach 90%), the second of a two well back-to-back shale gas exploration program in the Nappamerri Trough, has intersected the top of the target Roseneath-Epsilon-Murteree (REM) sequence and is currently coring. An extensive coring program is planned for this well, and will extend drilling into late March.
Beach has also received some preliminary results from its extensive testing program on the core recovered from the Encounter 1 well. Early results show Total Organic Content (TOC) values in the REM shale sequence compare very favorably to numbers seen in the gas shale plays of the United States. Gas evolving from the core samples and good mud gas readings taken while drilling confirm that the REM target section contains gas outside of structural closure, which was one of the key objectives of this drilling campaign. Extensive analyses on the core will continue for some months from both Encounter-1 and from the newly acquired Holdfast-1 samples.