Tap Oil Limited provides the following update on the Zola-1 exploration well, offshore Carnarvon Basin, Western Australia.
Location / Proposed Depth
The Zola-1/Zola-1 ST1 well is located in permit WA-290-P, immediately south of the giant Gorgon gas field in the Carnarvon Basin, Western Australia. The well is being drilled in 285m of water. The well is expected to be drilled to a target depth of approximately 5,000m.
Progress
During the period from 06:00 hours WST on 23 March 2011 to 06:00 hours WST on 30 March 2011 the well was successfully sidetracked as Zola-1 ST1 and was drilling ahead in 216 mm (81/2) hole at 4,696m.
Forward Plan
Drill ahead to circa 4,750m and run wireline logs to get full log coverage of the gas sands and drill to final total depth.
Background
The Zola prospect is a very large Triassic tilted fault block on trend with the giant Gorgon gas field and was one of the largest undrilled structural features in the Carnarvon Basin. The well is testing the gas potential of several top and intra Mungaroo Formation sands – the primary reservoir at Gorgon. In addition it is possible that some Jurassic reservoirs may be developed flanking the main Triassic structure.
To date the well has encountered gas saturated sands in the interval from 4,197m to 4,671m, with over 120m (true vertical thickness) of potential gas saturated, reservoir quality sandstone likely present (based on mudlog and limited LWD data). The gas sands are largely contained in three thick Mungaroo Formation channel sand packages. At this stage it is not known if the gas sands are discrete individual accumulations or part of a single accumulation.
Data gathered to date, although still preliminary, is indicating that volumetrically the greater Zola structure could be at the upper end of Tap’s pre drill estimates of 1 – 2 Tcf.
Located close to existing and developing gas infrastructure, Zola could have multiple potential development options. Any development at Zola could also encompass the overlying Antiope gas discovery (estimated at ~120 Bcf).
WA-290-P Joint Venture Participants
Tap (Shelfal) Pty Ltd 10.00%
Apache Northwest Pty Ltd (Operator) 30.25%
Santos Offshore Pty Ltd 24.75%
OMV Australia Pty Ltd 20.00%
Nippon Oil Exploration (Dampier) Pty Ltd 15.00%
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Source:Tap Oil,March 30, 2011; Image: Photobucket,June 25,2009