Senex Energy (ASX: SXY) has further proved up the potential of the Cooper Basin Western Flank with the discovery of a new oil field that flowed almost 2500 barrels per day of oil during testing.
Drill stem test of the Mustang-1 exploration well in PEL 111 resulted in the flow of light 45.4 degree API oil at a rate of 2484 barrels per day (bpd) from a 4.5 metre gross oil column in the Birkhead Formation, one of the producing oil horizons in the Cooper Basin.
The result exceeded Senex’s expectations and is analogous to the results at the highly productive Growler oil field.
Mustang-1 will be cased and suspended as a future producer.
Senex holds a 60% operating interest in PEL 111 while Beach Energy (ASX: BPT) holds the remaining 40%.
Western Flank prospectivity
The Cooper Basin Western Flank has proven to be highly prospective with numerous discoveries made in recent years such as the Bauer oil field, the Middleton-Brownlow wet gas field and the Haslam wet gas discovery.
Newer finds such as Mustang-1 have served to reinforce this view, making it likely that further exploration and appraisal is forthcoming.
This can be seen with the 12 wells that Drillsearch Energy (ASX: DLS) and Beach Energy have committed to drilling both on Bauer and target new prospects in PEL 91.
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