PERTH, Dec 24 AAP - The Janus-1 well in the offshore Carnarvon Basin off
Western Australia is expected to spud late Friday, Apache Energy said
today.
Apache, which is operator of the drilling program, said Janus-1 would
target the mid-Jurassic Legendre Formation sand target located between
2,380 to 2,460 metres below sea level.
The company said the Janus prospect had similarities to the recent 250
billion cubic feet of gas Reindeer discovery on a trend 30 kilometres to
the southwest.
Apache said up to 163 to 389 million barrels of oil equivalent and 246
to 588 billion cubic feet of gas may be determined at the Janus prospect.
Other participants in the program include Sun Resources NL 7.86 per
cent, Carnarvon Petroleum 8.69 per cent, First Australian Resources NL
10.71 per cent, Victoria Petroleum NL 4.03 per cent, Socdet Productions
1.07 per cent, Gulf (Aust) Resources NL 24.38 per cent, Cordex Petroleum
Inc 1.92 per cent and Kestrel Energy Inc 2.14 per cent.
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If you ever thought you may want to get some KEST the time is now. These wells only take about 3 weeks or so to drill so you've got to start building your position now if you want to get any stock without moving up the price. I feel safe in saying that this is a unique opportunity in the O&G arena. The big boys are letting us farm into their massive wells in the offshore Cararvon basin for basically nothing! Check recent news on APA in Yahoo --- they have had a recent string of huge successes in this basin (most recently a 6,300 bod well) and this well is on trend with these successes.
KEST is also tending to its knitting, drilling 4 developmental wells here in the US, in order to get back to positive cash flow. The next Californian well should also get spudded any week now.
BTW, hope you are having a great holiday! |
