Santos (ASX: STO) and Octanex (ASX: OXX) are preparing to spud the Winchester-1 exploration well targeting gas and condensate in the Dampier Sub-basin offshore Western Australia.
Winchester-1 will target the hydrocarbon potential of Triassic aged reservoirs mapped within a four-way dip closed anticline structural closure.
It is located on the northeast trending Parker Terrace, representing a structural high separated from the Rankin Trend to the east.
The Winchester prospect has been mapped previously by Woodside, who drilled Webley-1A in 1998 in a largely unsuccessful attempt to test the structure at depth.
In addition, the greater closure includes a tilted fault block intersected by Parker-1/ST1 that was drilled in 1979 and intersected over 200 metres of elevated mud gas shows within the Triassic reservoir section.
This well was drilled to a total depth of 4736 metres, but the operator was unable to evaluate the shows due to operational issues that caused the premature abandonment of the well.
Santos is free-carrying Octanex’s 25% interest in Winchester-1 under its farm-in to WA-323-P.
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