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- Carnarvon Energy (CVN) has commenced drilling at the Apus-1 well, located around 27 kilometres (km) southwest of the company’s successful Pavo-1 well in WA
- The Noble Tom Prosser jack-up drilling rig has started with drilling of the surface hole down to a total depth of around 175 metres
- Key risks for the prospect include hydrocarbon charge (long-range migration) and top-seal (thickness), similar to the key risks of the Pavo-1 well
- The company believes that Apus is an attractive prospect, with the company ascribing an estimated one-in-four (23 per cent) geological probability of success
- CVN shares are down 0.78 per cent and trading at 31.8 cents each
Carnarvon Energy (CVN) has commenced drilling at the Apus-1 well, located around 27 kilometres southwest of its successful Pavo-1 well in the Bedout Sub-basin of WA.
The Apus-1 well is located in the WA-437-P exploration permit in which Carnarvon holds a 20 per cent interest.
The Noble Tom Prosser jack-up drilling rig has started with drilling of the surface hole down to a total depth of around 175 metres, and installation of the surface conductor.
Following the setting of the surface conductor, the 17.5 inch hole will be drilled down to a total depth of around 850 metres and the 13.625 inch casing will be set and cemented in place.
The rig will then drill ahead in the 12.25 inch hole to a total measured depth of approximately 2200 metres before setting the 9.625 inch liner.
After setting the 9.625 inch liner, the rig will drill ahead in the 8.5 inch hole section through the expected reservoir interval.
No hydrocarbons are anticipated to be intersected in these hole sections.
The Apus-1 well is targeting a large structure with two potential reservoir intervals with the company estimating a gross mean combined recoverable volume of 235 million barrels of liquids and 408 billion cubic feet of gas in the Caley and Milne Members within the main Apus structure.
Key risks for the prospect include hydrocarbon charge (long-range migration) and top-seal (thickness), similar to the key risks of the Pavo-1 well.
The Pavo-1 well has proven long-range migration and effective top-seal at the Pavo structure, which is further from the Dorado field than Apus.
The higher risk for Apus-1 relative to Pavo’s pre-drill estimate of 34 per cent relates primarily to more complex interpreted charge/migration pathways.
The company believes that Apus is an attractive prospect, with the company ascribing an estimated one-in-four (23 per cent) geological probability of success.
CVN shares were down 0.78 per cent at 31.8 cents each as of 12:07 pm AEST.
