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MENAFN - ProactiveInvestors - Australia - 12/11/2012

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(MENAFN - ProactiveInvestors - Australia) Drillsearch Energy (ASX: DLS) has spudded a deviated well to appraise the northwestern area of the Bauer oil field in the Cooper Basin, South Australia.

Bauer-9 is located 800 metres northwest of the successful Bauer-8 development well and 1.6 kilometres southwest of the recent Bauer North-1 oil discovery well.

The well targets the McKinlay Member and the Namur Sandstone as well as assess the Birkhead Formation in light of oil discoveries in close proximity at Bauer-5 and Basham-1.

It will also appraise the potential for the Bauer and Bauer North fields to be part of a common oil pool as they both have a similar oil-water contact, suggesting that they may be part of a more extensive oil pool.

Following the drilling of Bauer-9 the Ensign 930 rig will move to the exploration well Pennington-1 located 9.3km east of the Bauer-1 and the Bauer Oil Field.

Drillsearch has a 60% interest in PEL 91 while Beach Energy (ASX: BPT) holds a 40% operating interest.

 






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