The Wet Gas joint venture with Santos (Drillsearch 40%, Santos 60% and Operator) in the Western Wet Gas Fairway successfully drilled the eighth and final well of the FY2015 campaign, with Moonanga South-1 becoming the joint venture's seventh discovery of the financial year. Drillsearch has been free carried throughout the campaign, under the terms of the farm-in arrangements with Santos.

Moonanga South-1 was drilled to a total depth of 3,177 metres, due south of the South Australian Cooper Basin Joint Venture's producing Moonanga field and east of the SACBJV's Raven field.

Excellent gas shows were observed across the Patchawarra Formation from 2,597 to 3,115 metres, with elevated gas readings observed across both sandstones and coals.

Drillsearch's preliminary interpretation of wireline logs calculated approximately 4.3 metres of net pay across two zones in the Patchawarra Formation within a gross interval of 518 metres. Stacked reservoirs were identified and, in addition to the conventional pay, several zones with potential for unconventional pay were also observed. As a result, Moonanga South-1 was cased and suspended as a future producer.

Tags: Drillsearch Energy