3D Energy has discovered gas in Victoria’s Otway Basin.
The discovery occurred at the Charlemont-1 exploration well within permit VIC/P79. A wireline logging program has been completed across the Waarre C, B and A sandstones to fully evaluate the nature and extent of any hydrocarbons in these units.
Waarre C results confirmed the presence of hydrocarbons in several thin sandstones. Interestingly, the intersection of gas in the Waarre C was not anticipated prior to drilling.
At Waarre A, elevated gas readings and log resistivity are consistent with probable hydrocarbon presence. Evaluation of data is ongoing.
Charlemont-1 will now be plugged and abandoned in accordance with the approved drilling Environment Plan. Operations at Charlemont-1 will likely be completed in the coming days, at which stage the Transocean Equinox rig is being transferred for use by another operator in the region.
There is potential to drill additional wells as Phase 2 of the Otway exploration drilling program under the approved Environment Plan; however, no decision has been made at this stage and further evaluation will be required before confirming any next steps.