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Thursday, 08 January, 2009, 23:50 GMT | more >>

Stuart loses on Rising Fast



By Upstream staff 

Australia’s Stuart Petroleum is abandoning its Rising Fast-1 exploration well in the South Australian section of the Cooper-Eromanga basin after it flowed only water during drill stem tests.

The company said that the results indicated the presence of residual oil and confirmed the migration of oil from Permian rocks to the north-east.

It added that it did not change its view of oil potential in the region.

The rig will now move to drill the Dunoon-2 exploration well that will test the oil trend confirmed by recent discoveries at Revenue, Rimfire as well as Might & Power. It will also act as a follow-up to the original discovery at Harpoono.

Dunoon-2 is located 2.3 kilometres south-west of Harpoono-1 and 500 metres north west of the Dunoon-1 well that was drilled in 1984 where Delhi Petroleum had found oil shows in the Murta formation and the McKinlay Member.

Dunoon-2 will target oil in these zones and the structure has potential oil in-place reserves of about 720,000 barrels.


Monday, 27 November, 2006, 03:46 GMT  | last updated: Monday, 27 November, 2006, 09:33 GMT

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