(MENAFN - ProactiveInvestors - Australia) Key Petroleum (ASX: KEY) has restarted drilling of its Cyrene-1 exploration well in the onshore Canning Basin, Western Australia.
Managing director Kane Marshall said he was pleased that Key had managed to avoid delays due to wet weather from Tropical Cyclone Narelle and rain from repeated low fronts over the Kimberley.
"I consider the commencement of drilling Cyrene-1 as another positive step and we look forward to providing daily reports as we progress towards the Goldwyer and Willara objectives," he added.
Drilling of the 9 5/8 inch surface casing shoe has started to undertake a leak off test prior to drilling to the primary objectives.
Cyrene-1 will core through a 135 metre section within Goldwyer Formation Shales to assess its potential as for unconventional hydrocarbons as well as the conventional Willara Formation that is estimated to host 5 million barrels of oil.
The well has a planned total depth of 1,060 metres.