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Sunday, 12 October, 2008, 12:50 GMT | more prices >>

Flax-7 offshoot sniffs oil and gas



By Upstream staff 

Brisbane-based Innamincka Petroleum said the Flax-7 sidetrack, in the Queensland sector of the Cooper basin, has reached a depth of 2734 metres in the basal Patchawarra formation, adding that there are positive signs of hydrocarbons.

Elevated gas readings and oil fluorescence were reported through the overlying Permian section. These shows are comparable to those seen in the nearby wells in the Flax field, said the company.

The well is set to reach a total depth of 2830 metres.

Innamincka operates the well with a 75% stake, while SCGAU holds a 25% stake.


Wednesday, 16 April, 2008, 02:27 GMT  | last updated: Wednesday, 16 April, 2008, 07:37 GMT

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