Penneshaw-1 is located 4 km east of Perlubie and 4.5 km west of the Christies Field and is being drilled to a total depth of 1862 m in the Merrimelia Formation. The well is anticipated to complete within 12 days.
The primary target of Penneshaw-1 is the Namur Sandstone, which is the oil producing reservoir in several adjacent fields (Butlers, Callawonga, Parsons, Perlubie and Christies). The secondary targets of Penneshaw-1 are the Mid-Namur Sandstone, Birkhead Formation and Hutton Sandstone, which are oilbearing in the Christies and Silver Sands fields.
Following Penneshaw-1, the rig will move to drill Butlers-9, which will appraise potential oil volume in the undrilled north-west quadrant of the Butlers oilfield.
Cooper Energy holds a 25% interest in PRL 87, with the balance held by the Operator, Beach Energy.
