(MENAFN- ProactiveInvestors - Australia) Beach Energy (ASX: BPT) has further extended the Bauer oil field in the Cooper Basin, this time with the Bauer-9 well to the northwest.
Bauer-9 intersected 3.7 metres of net oil pay in the McKinlay Formation and a further 7 metres in the Namur Sandstones.
Oil shows were also encountered over a 11 metre interval in the secondary target Birkhead Formation though the well location appears to be suboptimal for intersecting the Birkhead interval at this location.
Bauer-9 is located 800 metres north west from the successful Bauer-8 development well and 1.6 kilometres south-west of the Bauer North oil discovery, adding further support to the possibility that Bauer and Bauer North are part of a common larger oil pool.
Confirmation of this will likely result in a large upgrade to oil reserves in the field, which partner Drillsearch Energy (ASX: DLS) had last week upgraded by 22% to 8.2 million barrels of proved and probable oil.
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 Oil Field.
Beach has a 40% operating interest in PEL 91 while Drillsearch holds the remaining 60%.
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