(MENAFN- ProactiveInvestors - Australia) Exoma Energy (ASX: EXE) and CNOOC have spudded their first conventional oil well in their 2012 Galilee Basin exploration program that will test in-place oil of up to 60 million barrels.
Katherine West-1 will drill and test the Adori and Hutton oil reservoirs discovered in the Katherine-1 well , which is located about 100 metres away.
It is expected to provide a definitive test of the indicated resource of 13.7 million barrels of oil in the Hutton and 46 million barrels of oil in the Adori.
Katherine West-1 will be tested using a wireline flow test tool to establish oil flow rates and obtain oil samples.
Should testing establish producible oil, the well will be completed and suspended for future production testing.
Katherine West-1 is the first of two conventional oil wells Exoma and CNOOC are drilling. The second will test the Katherine East prospect.
Both wells are part of the drilling program of up to 22 wells that the two companies are drilling across their 27,000 square kilometre joint venture acreage.
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