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Odin-1 Net Pay results and Vali-3 drilling progress

  • Odin-1 net gas pay of 172.5m primarily in the Toolachee, Patchawarra and Epsilon formations
  • Odin-1 laboratory analysis confirms gas compositions in Toolachee and Epsilon
  • Vali-3 at 2,774 metres in Epsilon Formation; gas shows observed in mid-Nappamerri and Toolachee formations;
  • Vali-3 oil shows in the shallower Jurassic section and Toolachee Formation-1 net gas pay of 172.5m primarily in the Toolachee, Patchawarra and Epsilon formations

 

Odin-1 Net Pay:

The Odin-1 exploration well reached total depth at 3,140 metres on 26 May 2021, with extensive gas shows encountered in sandstones through the primary target Toolachee and Patchawarra formations, as well as a basal sand in a secondary target in the Epsilon Formation.

It is estimated that 172.5 metres of net gas pay exists within various sections of the well, which is made up of the following intervals:

  • Toolachee Formation conventional pay: 37 metres (porosity greater than or equal to 8%)
  • Epsilon Formation conventional pay: 4.5 metres (porosity greater than or equal to 8%)
  • Patchawarra Formation conventional and low permeability pay: 126 metres (porosity greater than or equal to 6%)
  • Tirrawarra Sandstone conventional and low permeability pay: 5 metres (porosity greater than or equal to 6%)

The analysis of the gas sample recovered from the Toolachee Formation highlights the richer hydrocarbon content of this formation when compared with the Epsilon and Patchawarra formations, with the composition of the samples being:

  • Toolachee Formation gas sample: 83% hydrocarbons (79% methane, 3% ethane and 1% other) and 17% inerts;
  • Epsilon Formation gas sample: 77% hydrocarbons (75% methane, 2% ethane) and 23% inerts (similar to Patchawarra Formation samples from previous wells)

Odin-1 addressed a fault bounded Patchawarra Formation closure, up dip of Strathmount-1, a well drilled in 1987 and plugged and abandoned after discovering what was then considered a non-commercial hydrocarbon accumulation. Resource numbers for the Odin Field will be independently updated, and a  reserve certification made in the coming weeks.

Vali-3 Drilling Progress:

The Vali-3 well is currently at 2,774 metres in the Epsilon Formation and expected to reach total depth this weekend.

In addition to the gas shows observed previously in the mid-Nappamerri Formation, it was pleasing to also observe gas shows and minor oil shows in the Toolachee Formation. While it is unlikely that commercial oil will be recoverable from the Toolachee Formation, the shows are encouraging as indicative of possible oil migration to shallower Jurassic prospects and leads in the area, which is analogous to the Cooper Basin Western Flank.

The primary objective of Vali-3 is the appraisal of the deeper Patchawarra Formation gas accumulation discovered in the Vali-1 ST1 well and confirmed in the Vali-2 well.

For more information contact: 

Ken Aitken, CEO

Phone: +61 08 6245 0062

CONTACT US

West Perth Office
Level 2, 30 Richardson St.
West Perth, WA 6005

Tel: +61 8 6245 0060
Metgasco Ltd  ACN 088 196 383