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Drillbit spins at Cuisinier-1
By Upstream staff
Canadian junior Avery Resources and its partners have spudded the Cuisinier-1 exploration probe on ATP 752P, in the Queensland sector of the Cooper-Eromanga basin.
The well, the first of this year's drilling programme as part of a joint venture with Santos, Bow Energy and Victoria Petroleum, will test the hydrocarbon potential within the Hutton sandstone and the Doonmulla member of the Tinchoo formation in a structural high about 6 kilometres west of the Santos-operated Cook oilfield.
In October last year Avery entered into a formal agreement with Santos to jointly explore and develop the Barta Block and the Wompi Block in ATP 752P.
The Barta and Wompi blocks lie next to lands held by Santos which are the subject of an accelerated exploration and development programme being carried out as part of the Santos Cooper Oil Project.
Avery has the option to drill up to three wells to earn up to 25% interest in Barta. Avery will be carried on 100 square kilometres of 3D seismic and will pay the costs equivalent to 1.45 wells to earn its interest.
The Cuisinier 1 well is the first well of this programme. The second well, Hudson-1, will spud by the end of June.
Avery has the option to drill up to four wells on Wompi to earn up to a 30% stake. Avery will be carried on the first three wells and on 200 square kilometres of 3D seismic and pay only 0.45 of one well to earn its interest.
The first well on the Wompi Block is expected to be drilled in the third quarter of 2008. Avery's total capital exposure for the Santos Joint Venture is estimated at $4.2 million.
Tuesday, 22 April, 2008, 13:36 GMT | last updated: Tuesday, 22 April, 2008, 13:36 GMT
