Eagle Bay Discover 'Significant'Gas Find in Southern Australia

Australian exploration company Eagle Bay Resources has announced a 'significant' gas discovery in South Australia's cooper basin.

The Vanessa-1 sidetrack ST-1 was drilled to depths of 3157m and the company says drill stem testing of the formations revealed 'significant gas to surface'.

Eagle Bay is currently undertaking detailed geological and geophysical studies to define the reserve potential of the Vanessa gas pool but initial data based on pre-drilling mapping suggests Vanessa 1 can produce 15 Bcf of gas.

Similar follow-up prospects lie close by to the Vanessa-1 location and in the event of success could be tied into Vanessa-1 to increase proven reserves and gas deliverability, say the company.

By Staff writer