Oil and gas explorer Beach Petroleum said that the Ocean Patriot semi-submersible drilling rig is expected to be released for the drilling of the Spikey Beach-1 exploration well offshore Tasmania.
Beach is the operator of the well and will be earning 80% in the Spikey Beach Farmout Blocks through the drilling of the well.
Spikey Beach-1 will target mean recoverable oil of 16 million barrels and a high side of 41 million barrels of recoverable oil in the Upper Eastern View Group.
The well is expected to spud in the week beginning 7 September.
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