Apache prepares to spud Phoenix South well

Carnarvon Petroleum Limited has informed that the Atwood Eagle semi-submersible drilling rig has been released from the previous location and is en route to the Phoenix South-1 well location within the WA-435-P exploration permit, offshore W. Australia.

The company said it would release the next announcement after the Phoenix South-1 well has spudded. Carnarvon expects the spud to take place on or around the weekend of 24 – 25 May 2014.

Apache Energy and JX Nippon are earning a 40% and 20% interest in the permit respectively through the drilling of the well down to 4,500 m.

The equity interest holders (upon satisfaction of the farm in agreement terms) are:

Carnarvon Petroleum 20%
Apache Energy (Operator) 40%
JX Nippon 20%
Finder Exploration 20%

 

 

 

May 19, 2014

 

 

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