The Martlet-1 exploration well in Australia has intersected 6m of net oil pay in the Namur Sandstone.
It is the initial Namur oil discovery in the PEL 104/111 joint-venture (JV) area.
The Martlet-1 exploration well is located in PEL 104 on the western flank of the South Australian Cooper-Eromanga Basin.
The well, which intersected oil pay at a depth of 1454m measured depth, is currently being cased and suspended for production in the next quarter.
Senex Energy operates the PEL 104 with 60% stake and Beach Energy owns the remaining interest.
Beach Energy managing director Reg Nelson said: "The discovery further vindicates Beach’s acquisition of Impress Energy.
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By GlobalData"The presence of oil within the Namur Sandstone confirms the extension to the north of the play that has delivered prolific fields, such as Bauer, Callawonga and others further south, and provides an additional primary target to the proven Birkhead oil play in the area."
Beach Energy is currently focusing on the eastern flank of the Cooper Basin.
Through its farm-ins with Bengal Energy in ATP 732 and Drillsearch in ATP 924, Beach Energy plans to use its expertise to interpret 3D seismic to find prospects for drilling in the first half of 2015.
Image: Senex Energy operates the PEL 104 with 60% stake and Beach Energy owns the remaining interest. Photo: courtesy of Beach Energy.
