Real Energy confirms Queenscliff-1 Gas Discovery
THE ROADHOUSE BOWSER: Real Energy Corporation (ASX: RLE) reported on progress at the company’s two maiden Cooper Basin wells, Tamarama-1 and Queenscliff-1.
Real Energy said completion and testing operations at the two wells are progressing well to the point where the company has confirmed gas to have flowed to surface at Queenscliff 1.
Real Energy indicated it now plans to complete and test several zones in each well, covering both the Patchawarra and Toolachee formations.
Queenscliff-1 has been perforated and flow tested over the Toolachee and Patchawarra formations interval, while at Tamarama-1 a pressure build-up survey of the upper Patchawarra Formation section has been completed with the Toolachee Formation expected to be perforated and tested in the next few weeks.
“This is an important discovery for both Real Energy and the development of gas on the Queensland side of the Cooper Basin,” Real Energy managing director Scott Brown said in the company’s announcement to the Australian Securities Exchange.
“It is extremely encouraging that Queenscliff-1 has been confirmed as a gas discovery well, with gas flowing to surface without fracture stimulation.
“Tamarama-1 and Queenscliff-1 were drilled as proof of concept wells and these results prove the existence of basin centred gas in this area.
“The objective of the testing and completion program undertaken at Tamarama-1 and Queenscliff-1 was to confirm the presence of moveable gas in the Toolachee and Patchawarra formations outside any structural closure, and the flow of gas proves the basin centred gas existence in this area.
“Queenscliff-1 was drilled on the low, which indicates that the gas is not structurally dependent.
“Instead, gas is likely to exist wherever the formation is present in this area, and as a result the volume of gas contained in these formations is likely to be extremely large.
“We will undertake further testing on both wells over the coming weeks and assess the resulting data.
“The company will also consider simulating the wells and the best completion techniques going forward.”
Website: www.realenergy.com.au