(MENAFN- ProactiveInvestors - Australia) Exoma Energy (ASX: EXE) and CNOOC have taken chip samples from a 40 metre section of the Toolebuc Shale at their recently completed Scotty Creek-1 exploration well in ATP 1005P, onshore Galilee Basin.
The samples will be subject to geochemical analysis and the data forming part of the joint venture's assessment of the extent of maturity of the Toolebuc shale as an oil and gas resource.
Scotty Creek-1 was also deepened to test for the presence of the oil-bearing Hutton and Adori sandstones though it found no traces of them at this location.
The well has been cased and suspended as a potential water source for future drilling in the block and the EDA-1 drill rig released to drill the Rocky Creek-1 shale core well in ATP 999P.
Scotty Creek-1 was the sixth well in a 22 well drilling campaign Exoma and CNOOC are drilling to appraise the coal seam gas, conventional oil and shale oil and gas resources in their acreage, which covers 27,000 square kilometres.
The wells are designed to deliver a strategic understanding of the basic geology within the 5 permits with the objective of defining the most favourable areas in which to develop reserves.
These seek to measure and map the distribution of gas within the Permian Betts Creek and Aramac Coal measures; collect further shale geological and geochemical data on the Toolebuc shale and test conventional oil prospects.
CNOOC is providing the initial A$50 million of joint venture expenditures to earn a 50% in ATP 991, 996, 999, 1005 and 1008.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.