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Summary

Cadell 1

CADELL 1

Santos Limited, as Operator of the TP-7 Joint Venture, advises that the Cadell 1 exploration well reached a total depth of 1425m and will be plugged and abandoned.

Over the last two days the electric logging program has been completed. Wireline log and pressure data indicate a 74 metre gas column between 1248m and 1322m.

The Cadell prospect is located in the Carnarvon Basin in 16m of water 7km from facilities on Airlie Island and lies 3km south of the South Chervil Field and 40km north of the town of Onslow.

At this stage, and subject to further detailed analysis, Santos assessment is that Cadell 1 appears to be a relatively small gas field which is unlikely to be economic on a stand alone basis.

The participants in the TP-7 Joint Venture are:

  • Pan Pacific Petroleum N.L. 4.16%
  • Apache Corporation 39.66%
  • Santos Group 43.71% (Operator)
  • Mobil Aust Res Company Pty Ltd 12.47%