Australia: Kingtree wildcat spudded in Timor Sea

PTTEP Australia Timor Sea Pty Ltd. has spudded the Kingtree exploratory well on the AC/P 24 permit in the Vulcan subbasin of the Timor Sea off northwestern Australia.

The well will evaluate a large, shallow structure defined on multiple 3D and 2D seismic data sets. The structure is in 110 m of water 300 km offshore and on trend with Challis-Cassini oil field.

The pool analogy for the Kingtree prospect is nearby Jabiru field, which has cumulative production of 115 million bbl of oil. Kingtree, 12 km east of the Katandra oil discovery, is to be drilled to 1,472 m in 17 days.

The purpose of the well is to help delineate the extent of the potential hydrocarbon deposits in the area and if successful will provide valuable information in determining the total amount of hydrocarbons in place and the scale of the subsequent development drilling and production infrastructure plan.

PTTEP Australia has 90% interest in AC/P 24 and Bengal Energy Ltd., Calgary, has 10%.

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