Cooper Energy announces that Bungaloo-1, the second of two deep wells targeting the Casterton Formation within the Penola Trough of the onshore Otway Basin, was spudded in PEL 494 at 12:30 on 19 April 2014 by Ensign rig 916. At 06:00 today the well was at a depth of 617 metres in the Eumeralla Formation and running in hole with 13-3/8' casing in accordance with the drilling programme.

Bungaloo-1 will, like the preceding well Jolly-1, have the primary objective of assessing the oil and gas potential of shales within the Casterton Formation. Bungaloo-1 is expected to be drilled to a total depth of 3,677 metres and collect over 100 metres of conventional core.

Tags: Cooper Energy