Even though early results indicated potential, Malaysian Hibiscus Petroleum, an independent oil and gas exploration and production company, has found no commercial hydrocarbons in its Sea Lion prospect, offshore Australia.
According to 3D Oil Limited, a partner in the project, wireline evaluation and sampling of formation fluids over zones of interest identified on preliminary Sea Lion -1 data have been completed.
This work has confirmed that no zones of commercial hydrocarbons were encountered in the Sea Lion-1 well, 3D Oil said.
The company adds that current operation is running out of the hole with logging tools. Forward operations are to plug and abandon the Sea Lion -1 well and to de-mobilise the West Telesto drilling rig from the site, said 3D Oil.
Sea Lion is located in offshore Gippsland Basin permit VIC/P57 where 3D Oil has a 24.9% interest in Vic/P57 while the company’s share of Sea Lion-1 well costs is being carried up to the extent of $7.5 million as part of an agreement with joint venture operator Carnarvon Hibiscus Pty Ltd (‘CHPL’) the wholly owned subsidiary of Hibiscus Petroleum.