Total
0
Shares
The Lockyer Deep-1 well site during mobilisation and rig-up. Source: Norwest Energy
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Norwest Energy (NWE) spuds its Lockyer Deep-1 conventional gas exploration well within the Perth Basin in Western Australia
  • Drilling is set to test a larges structure at the Kingia and High Cliff formations which it says is on trend with similar previous discoveries
  • The well is set to be drilled to 4185 metres, which is expected to take roughly 35 days
  • Lockyer Deep-1 sits within Exploration Permit EP368 and is held in a joint venture arrangement with Energy Resources
  • Norwest Energy shares were down 8.33 per cent to trade at 1.1 cents

Norwest Energy (NWE) has spudded the Lockyer Deep-1 conventional gas exploration well within the Perth Basin in Western Australia.

The first drilling took place late into the evening of July 18 and will test a large structure at the Kingia and High Cliff formations, on-trend with previous discoveries within the Permian deep gas play of the north Perth Basin.

Norwest hopes Lockyer-Deep 1 may give way to similar gas discoveries made at Waitsia, West Erregulla and Beharra Springs Deep, which resulted in three substantial gas discoveries from three exploration wells in the Perth Basin.

Drilling is expected to take 35 days to reach its projected total depth of 4185 metres, and the company intends to update the market when it has reached the surface casing point at approximately 1140 metres.

Lockyer Deep-1 sits within Exploration Permit EP368 and has an estimated Geological Chance of Success of 38 per cent.

The permit is held in an 80:20 joint venture between Energy Resources and Norwest Energy, respectively.

Norwest had initially laid plans to commence at the project in the first half of 2020.

Norwest Energy shares were down 8.33 per cent to trade at 1.1 cents at 1:32 pm AEST.

NWE by the numbers
More From The Market Herald

" Melbana Energy (ASX:MAY) prepares for drilling in Cuba

Melbana Energy (MAY) has announced it will resume drilling at its Alameda-1 well in the block nine area, onshore Cuba after shutting earlier
1414 Degrees (ASX:14D) - COO, Dr Jordan Parham

" 1414 Degrees (ASX:14D) granted development approval variation

1414 Degrees (14D) has been granted a variation to its existing development approval for its Aurora Energy Project.

" Galilee Energy (ASX:GLL) appoints David Casey as Managing Director

Galilee Energy (GLL) has appointed an experienced coal seam gas expert as its new Managing Director.

" Metgasco (ASX:MEL) completes well testing at Odin-1

Metgasco (MEL) has completed its two-phase testing program at the Odin-1 well in Queensland’s Cooper Basin.