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Petsec reports another Mobile Bay gas discovery

By OGJ editors
HOUSTON, Jan. 3 -- Petsec Energy Ltd., Sydney, made a natural gas discovery on Mobile Bay leases in the Gulf of Mexico. Its 50-50 partner is independent Royal Exploration Co. Inc., Corpus Christi, Tex.

The Mobile Bay 993 well, spudded Dec. 21 in 82 ft of water, reached 3,324 ft TMD and cut 20 ft of net gas pay, Petsec said. Plans call for production to start in the third quarter.

Three other gas wells discovered last year on the Mobile Bay leases are being readied for 2007 production.

In late 2006, Petsec also was drilling three wells on Mobile Bay Blocks 993 and 994, 160 km east of New Orleans. These wells are next to and south of gas discoveries recently made on Mobile Bay Blocks 950 and 951 (OGJ, Nov. 6, 2006, p. 36).


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