Icon Energy: Etty-1 Well Reaches Total Depth

Icon Energy said that the Etty-1 well in ATP 855 has reached total depth of 3,807 meters in the top of the Patchawarra Formation on 23 March.

Etty-1, a vertical exploration well located 8.6 kilometers east of Halifax-1, was drilled to evaluate the basin-centered gas potential of the Permian Formations, from top Toolachee to top Patchawarra Formation.

The well encountered gas shows throughout the Permian section and will be cased and suspended for fracture stimulation and production testing to assess the deliverability potential of the unconventional gas play, which is expected to begin in the third quarter of 2014.

Joint Venture Interests in ATP 855:

• Icon Energy 35.1%
• Beach Energy 46.9% (Operator)
• Chevron Australia Exploration 18%