Australia: Icon Energy Updates on Halifax 1 Drilling

August 1, 2012

Icon Energy Limited provided an update in relation to the drilling of the Halifax 1 well in ATP 855P, located in the Cooper Basin, Queensland.

Halifax1, a vertical exploration well in ATP 855P (Beach 60%, Icon Energy 40%), was scheduled to spud on 1st August 2012 using the Ensign 916 rig. Beach Energy, the Operator of the ATP 855P Joint Venture, has advised today that the Halifax 1 well is now due to spud on 2nd August 2012.

Halifax 1 will evaluate the shale gas and basin-centred gas potential in the REM and Patchawarra Formation intervals within the Queensland portion of the Nappamerri Trough. The well is located approximately 12 kilometres southeast of Encounter 1 and has a planned total depth of 4,130 metres.

The Halifax 1 vertical exploration well will be:

Located 12 kilometres to the southeast of Encounter 1;
Extensively cored, with evaluation of the whole Permian section down to the base of the Patchawarra Formation;
Used to identify the best targets for a future horizontal well;
Fracture stimulated and flow tested through multiple zones, with a material contingent resource expected to be booked; and
Will be used for micro-seismic monitoring of a future horizontal well.

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LNG World News Staff, August 01, 2012