Orion Petroleum Announces Willaroo 1 Drilling to Commence
Orion Petroleum announced that drilling of the Willaroo-1 exploration well is scheduled to commence on the weekend of 10 May 2008. Located approx 25km southwest of Goondiwindi, Willaroo-1 is the first well in Orion’s exploration programme, which aims to assess the petroleum potential of northern NSW. Drilling operations are planned to take 16 days and the well is expected to reach a total depth of approx 2000m KB. Oil and gas volume estimates for undrilled prospects are uncertain. However, Orion’s best estimates are that the Willaroo structure has the potential to contain 40m barrels of oil in-place in Jurassic sands plus 155 BCF of gas in-place in Permian sands. Ensign Rig 20 is expected to encounter the first reservoir unit within a week of spudding the well and the deepest reservoir target will be intersected as the well approaches total depth.
Original Announcement: Willaroo 1 Drilling to Commence this Weekend
