Carnarvon Petroleum Limited and Quadrant Energy have just announced that the Joint Venture (JV) has made an oil discovery in the Caley Member offshore Western Australia.
Results have confirmed that a light oil discovery has been made in the uppermost section of Caley, along with the discovery of gas and condensate in the Baxter Member. Carnarvon has explained that this work was designed to provide additional information across a broader area of Caley.
Carnarvon has announced that the Baxter reservoir is predicted to contain an estimated gross hydrocarbon package of 21 metres along with a net pay thickness of approximately 10.5 metres.
Following this discovery, the JV has announced that a 7” liner will be set prior to drilling into the Crespin and Milne Members. The plan is to deepen the well to an approximately 4,550 metres measured depth to evaluate the newly discovered Baxter sand and the secondary targets in the Crespin and Milne.
More information on this development can be accessed here.