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Planet Gas provides update on Silver Star-1 exploration well in Cooper Basin

Published 14 June 2017

The Directors of Planet Gas Limited (Planet Gas) has provided an update with regards to the drilling of exploration well ‘Silver Star-1’ within PEL 638 in the South Australian Cooper Basin.

SILVER STAR-1 EXPLORATION WELL

Spud Date: 17 March 2017

Total Depth - Silver Star-1: 3,770 metres as at 2400hrs on 23/04

Horizontal Well - Silver Star-1 DW-1: Commenced 25 April 2017

Operations: Lateral section of 1,180 metres has been drilled with gas saturation levels in line with expectations. 5½’’ production casing is currently being set. Fracture stimulation and testing of the well will then follow.

Participating Interest: Senex Energy Limited (Operator) 53.75% Origin Energy Limited, 33.75% Planet Gas 12.5% (free carried).

About Silver Star-1 Exploration Well

The Silver Star-1 well is a high impact exploration well and will target basin centred gas in the Permian sandstones.

The properties of the reservoir have successfully met certain criteria and a lateral section of 1,180 metres has been drilled. 5½’’ production casing is now being set. Fracture stimulation and testing of the well will then follow.

Planet Gas 12.5% interest is free carried by joint venture partners Senex Energy Limited and Origin Energy Limited.



Source: Company Press Release