BEACH Energy and Drillsearch Energy have intersected an oil bearing reservoir at the Balgowan-1 exploration well on the Western Flank Oil Fairway of the Cooper basin.
The well intersected 3.5 metres of net pay in the Namur Sandstone and two metres in the McKinlay Member, confirming the extension of the oil fairway to the north east of recent discoveries in PEL 91.
The Balgowan-1 well met expectations by encountering hydrocarbons in the primary target, intersecting a gross oil interval of approximately nine metres.
Analysis of the well results were continuing with Drillsearch to provide an update on the size of the discovery in due course.
Balgowan-1 is located 3.6 kilometres northeast of the Stunsail-1 oil discovery. Following casing and suspension of Balgowan-1, the rig will move to drill Burners-1, which is located midway between Balgowan-1 and Stunsai l-1.
“The new field discovery at Balgowan has extended the oil fairway in PEL 91 that includes recent exploration success at Stunsail, Congony, Kalladeina and Sceale,” Beach managing director Reg Nelson said.
“This extension brings a new focus on a number of other prospects in this northern area of the permit.
“Through our farm-ins with Bengal Energy in ATP 732 and more recently with Drillsearch in ATP 924, we plan to utilise our expertise to interpret 3D seismic information to identify prospects for drilling in the first half of 2015.”