() has confirmed the reservoir quality of its Xanadu-1 conventional oil well in TP/15, a permit located 1.3 kilometres offshore Western Australia.
The company holds a 15% interest in the TP/15 joint venture along with Norwest Energy () (operator, 25%), Triangle Energy (Global) Ltd () (30%) and 3C Group IC (30%).
Since the last report, a suite of logs over a 330 metre section of the well have been acquired by the service provider ().
This logging has delineated net and gross reservoir sections within the well, providing greater understanding of the reservoir characteristics and yielded quality oil samples.
Importantly, reservoir quality sand intervals were encountered throughout the section with porosities generally ranging from 15% to 16%.
Furthermore, seismic data indicate that it is possible to drill an up-dip location which could allow the higher quality sand units deeper in the section to be penetrated above the inferred oil-water contact.
The rig is currently in the process of suspending the well.
Based on the results, and armed with much greater knowledge, the joint venture is planning to drill an up-dip side-track appraisal well, with the potential to be completed as a commercially producing well.
The operator is in the process of lodging a discovery notice with the Minister for Mines, Industry Regulation and Safety.