Triangle Energy, Strike Energy and Echelon Resources are on the hunt for oil in the Perth Basin.
The joint venture (JV) recently completed drilling the Booth-1 well, reaching a total depth of 2812m. The key prospective reservoirs of the Cattamarra, Dongara and Kingia were all been drilled, however, no moveable hydrocarbons were intersected.
“No cigar,” Echelon CEO Andrew Jefferies said. “A well drilled well; safe, under time, and I’d expect under budget, but not the success we are fervently hoped for.”
“I would like to thank the operator, rig company, crew and all the other parties who have been working so hard to help us answer the question at Booth. Nature has clearly answered.
“It was a good area, good structure, just no hydrocarbons. I wish the team well with the final operations and demobilisation of the rig.”
Not to be deterred by the results, the JV has two more Perth Basin wells to come. The planned Becos-1 well in an adjacent permit (EP 437) is now the immediate focus of the partnership.
The JV is awaiting environmental approval for Becos-1, which is targeting a shallower oil-play containing an estimated five million barrels of oil.
As part of the farm-in JV, Strike and Echelon are to drill and partly fund two more wells, one each two neighbouring permits (EP 437 and L7).
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