Eni Restarts Operations at Gawain-1 Well, Offshore Western Australia

Octanex N.L.  has been advised by Eni Australia Limited, the Operator of the Gawain-1 well located in the outer Exmouth Plateau permit, WA-362-P, that at 07:00 hours WST (Western Standard Time) on Wednesday, 2 March 2011, the Saipem 10000 drillship had re-commenced operations after having to wait on weather due to the proximity of a tropical low.

Since the last progress report of 23 February 2011, the 81/2″ pilot hole, that had already been drilled to 2,540m MDRT (measured depth below rotary table), was opened up to a 171/4″ hole and the 13%” intermediate casing then run and cemented in place. Several days were again lost over the last week as a result of having to wait on weather.

Planned operations over the next week are to run, install and pressure test the Marine Riser and Blow-  out-Preventer (BOP) prior to drilling ahead in the 12%” hole to approximately 3,500m MDRT. The 12Vi” hole is planned to intersect the Triassic reservoir in the top of the Mungaroo Formation at approximately 2,599m MDRT. The Mungaroo Formation is the target formation for the well, with mapped closures at the top of the Formation and at 3,832m MDRT. A positive outcome at the 3,832m MDRT target may lead to deepening the well.

A Time vs Depth Curve’ for the Gawain-1 well is shown in the attached figure. The Gawain-1 well is being drilled by the Saipem 10000 drillship and is the first well in a two well programme. It will be immediately followed by the Galahad-1 well in WA-363-P.

Depending upon the progress of the well, the next ASX release is planned for Wednesday, 9 March.

The participants in the WA-362-P and WA-363-P Joint Ventures are:

Eni Australia Limited 40%

OMV Australia Pty Ltd 40%

Octanex Group 20%

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Source:Octanex, March  3, 2011; Image:Laohamutuk