Planet Gas Limited and Senex Energy Limited have drilled a new exploratory oil well in the PEL 514 area of the South Australian Cooper Basin. Planet Gas holds 20 percent working interest in PEL 514 and Senex holds 80 percent and is the operator in the area.
The Hathi-1 vertical oil exploration well is located approximately 12 miles northeast of the Tarragon oil field in Australia. It was spud on Sept. 13. and it was at a current depth of about 2,255 feet as of Sept. 14. The companies plan to take it to a depth of about 8,300 feet in order to test the oil potential of the Tinchoo, Poolowanna, Birkhead and Hutton Sandstone formations.
The Hathi area has been mapped as a four-way closure for multiple horizons from the data of a seismic survey.
The companies plan to drill the Bagheera East-1 exploration well, which is also located in the PEL 514 area, and is about 6 miles northeast of the Hathi-1 well. The well will be drilled to about 8,235 feet to test the same formations as the Hathi-1 well.