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MOOMBA 87

Santos Ltd, as Operator for the Moomba Block Joint Venture Parties, announces the discovery of a new pool oil discovery in the South Australian section of the Cooper/Eromanga Basins.

The Moomba 87 Unit Gas Development well, which was drilled to increase gas deliverability from the Permian sediments, has penetrated an interpreted 12.2m (40) oil column in the Jurassic Namur Sandstone. Comparison with analogous productive zones in the Cooper Basin indicates the zone to be potentially capable of flowing at 1000-1500 barrels of oil per day.

The Operator is now evaluating the drilling of a twin Oil Development well to enable early connection of this discovery.

Additional potential exists within the Moomba Field for similar oil accumulations in the Namur Sandstone. A recently acquired 3D seismic survey will assist in defining further opportunities for drilling.

The Moomba 87 well is located approximately 6 km west of the Moomba plant.

The interest holders in the Moomba Block are:

  • Santos Group 59.7500%
  • Delhi Petroleum Pty Ltd 20.2100%
  • Boral Energy Resources Ltd 13.1900%
  • Gulf (Aust) Resources N.L. 4.7500%
  • Basin Oil N.L. 2.1000%