Cue Spuds Banambu Deep Well Offshore Australia

Cue Energy Resources Limited, an Australian based oil and gas company, has started drilling the Banambu Deep exploration well, offshore Western Australia.

The drilling of the Banambu Deep prospect has commenced with the spudding of the well at 16:30 hours WST on 29 May 2012. The well is anticipated to take approximately 50 days to drill.

The well will test the gas potential of sandstones in the prolific Triassic age, Mungaroo Formation, in a well-defined horst block| as imaged by high quality modem 3D seismic data. This is one of the primary play types in the Carnarvon Basin.

Cue estimates there potentially may be up to 1.5 trillion cubic feet of recoverable gas in the prospect. The close proximity of Cue’s licences to existing and planned LNG infrastructure could allow discovered hydrocarbons to be commercialised.

The Banambu Deep well is located in permit WA-389-P, in the Carnarvon Basin, Western Australia. The well is being drilled in 320m of water to a planned total depth of approximately 4686m below sea level in the primary Intra Mungaroo Formation target.

Following the completion of evaluation, the well will be plugged and abandoned in the normal course of offshore operations.

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Offshore Energy Today Staff, May 31, 2012