RCM Australia Pty Ltd. (RMCA) is advancing the Cervantes-1 wildcat in the onshore North Perth basin production permit L14 in Western Australia.
The well, to be drilled to a total depth of 2,600 m to intersect the Permian-age Dongara, Kingia, and High Cliff reservoirs, will spud today.
The prospect lies on the coast to the southwest of producing Jingemia oil field within oil the same licence.
Cervantes is a high-side fault trap of multiple Permian reservoir units with characteristics similar to surrounding discovered fields.
The structure has a P50 estimate of 15 million bbl prospective recoverable resource. It is one of the largest remaining oil prospects in the onshore Perth basin, according to joint venture farminee Metgasco Ltd.
Cervantes-1 is operated by RCMA with drilling management services supplied by Aztech Well Construction Pty Ltd. The well is 50% funded by Vintage Energy Ltd., Adelaide, and 50% by Metgasco Ltd., Sydney, both of which farmed into the permit in 2019 to participate in the Cervantes wildcat (OGJ Online, Nov. 18, 2019).
The resulting interests are RCMA 40% and operatorship, Vintage 30%, and Metgasco 30%.
