Victoria Petroleum plans 7 wells in next three months
Posted: 21 June 2006
Victoria Petroleum NL has scheduled an active exploration, appraisal and production testing program of 7 wells within the Australia and USA over the next three months.
The program commenced with drilling at Reids Dome North in Queensland, the drilling of 4 exploration wells in Southwest Queensland /South Australian Cooper Basin and one exploration well in the Gulf Coast, Texas.
An active exploration and development drilling program will continue over the following three months with up to a further 7 wells to be drilled for a total of 14 wells over the next six months.
“We are kicking off the second half of 2006 with the Primero-1 well on the Reids Dome in Central Queensland,” said John Kopcheff.
“This is a much awaited well as we have experienced shallow gas exploration success before, but are looking forward to the deeper 300 BCF gas potential.”
“In our Australian core area of operations we will start a four well exploration program in the Southwest Queensland and South Australian Cooper Basin with the drilling of Banff-1 with a follow on eight exploration wells.”
“The start of drilling in Southwest Queensland Cooper Basin, in late July is particularly significant as it is the first well that has been drilled in the permit in ten years.”
“We are truly going back to our roots with Banff-1 as this is the area Vicpet drilled first after listing in 1984
“The second half of 2006 looks to be an active year for Vicpet in which with success we will build on our current oil and gas production in Australia and the USA.”
The timing of the drilling of each well and the Victoria Petroleum NL interest in each well and permit is subject to rig, lease availability and farmout and government approval to drill.