Victoria Petroleum N.L. (Vicpet) as operator for the PEL 111 Joint Venture in South Australia’s Cooper Basin, advises that following the completion of formation pressure and fluid sampling, 7 inch production casing was run and cemented at 1,869 metres at Snatcher-1. The drilling rig has been rigged down and will be moved to the Snatcher-2 drill site, 899 metres to the northwest of the Snatcher-1 oil well following the completion of the setting of the surface conductor at Snatcher-2.

Wire line formation pressure and fluid sampling confirm the presence of moveable oil with 48 degree API oil being recovered in the sampling tool.

Snatcher-1 was a successful test of the oil bearing potential of the Snatcher Prospect adjacent to the Santos Limited operated Charo Field in PPL 177. The PPL 177 licence is wholly contained within PEL 111.

The participants in the drilling of Snatcher-1, Snatcher-2, and PEL 111 and their respective interests through their wholly owned subsidiaries are as follows; Victoria Petroleum N.L. (Operator) 40% Impress Energy Limited 40% Permian Oil Pty Ltd. 20%

Tags: Victoria Petroleum N.L.