Beach revealed Tuesday it had started drilling the Maroochydore‐1 exploration well in ATP 924 in Queensland.
The well is targeting Jurassic oil in the Hutton sandstone in targets identified on the Hurron 3D seismic which was shot last year.
Beach is funding the cost of the well under a farm-in agreement signed last year with Drillsearch Energy to gain a 45% stake in ATP 924.
Maroochydore-1 is the first of up to 16 wells Beach is planning to drill in the current financial year, which ends 30 June 2016, with the campaign to consist of a mix of exploration, appraisal and development wells.
Following the completion of Maroochydore-1 Beach will turn its attention to the Thylungra‐2 oil appraisal well in PL 184, followed by...
