Carnarvon Petroleum Limited (ASX:CVN) and joint venture partner Quadrant Energy are preparing to drill the Phoenix South-3 and Dorado-1 wells within the Phoenix Project located offshore Western Australia.
Carnarvon has a 20% interest in these exploration permits while Quadrant Energy is the operator and has an 80% interest.
The companies are preparing for drilling the wells in 2018, advancing technical work to improve the understanding of the basin’s geology and refining additional drill prospects to pursue in the future.
The Development Driller-1 rig is about to commence its voyage to Western Australia where it will drill a number of wells, with the Phoenix South-3 scheduled to be the first well in the program.
On the current schedule, the well is expected to commence in March 2018 and take around 90 days to drill to the target depth of circa 5,156 metres.
The primary target is the Caley interval that contained oil and gas 550 metres away in the Phoenix South-2 well in 2017.
The Ensco 107 jack-up drilling rig is expected to commence its mobilisation to Western Australia in April 2018 for multi-activity campaign, with the Dorado-1 well scheduled to be the first well.
Dorado-1 well will be exploring for significant gas and condensate volumes over multiple reservoir sands only circa 15 kilometres from the highly successful Roc-2 well.
The Dorado-1 well is expected to take around 45 days to complete, to a total depth of circa 4,400 metres.
There are also a number of secondary targets beneath the Caley interval that are planned to be evaluated in the Dorado-1 well.