Lakes, Armour spud wildcat

Holdgate: The wildcat is on the hunt for gas in the Strzelecki group

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Andrew Hobbs

 23 May 2012 09:13 GMT

Australian minnows Lakes Oil and Armour Energy have spudded their Gippsland basin wildcat, on PEP166 onshore the Australian state of Victoria, the companies have announced.

The Holdgate-1 well will reach a depth of 2500 metres, searching for oil and gas plays on the Baragwanath Anticline in the project area, which Lakes said stretched 60 kilometres.

The well will target gas found in the Strzelecki Group as well as the Rintouls Creek Sandstone/Tyers Conglomerate, which was found in Lakes’ strategic core-hole Yallourn North 1A, drilled 12 months ago.

The Holdgate-1 well is about 28 kilometres south east of Yallourn North 1A, but Lakes said the oil bearing section could be present in the well.

Lakes and Armour were…

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