An extract from a Company ann when Empire Oil and Gas had EP438 back in 2010. Thought it was intresting and a little more detailed. Currently drilling 160 mtrs away.
'Hedonia-1 is located on an anticlinal feature and is of significant interest where well developed karstic porosity was intersected in Ordovician aged Willara limestones at a relatively shallow depth of some 1050 metres. The Hedonia-1 well lost circulation of its drilling fluids upon drilling into the top of this reservoir objective Willara Formation. This severe lost circulation indicates high permeabilities in this limestone reservoir where a significant gas show was recorded. This is an exciting reservoir objective where this formation was never properly tested. The testing programme on Hedonia-1 was terminated prematurely due to weather. There were also numerous oil and gas shows in the marine black shales of the Goldwyer Formation which demonstrates oil maturity in these source rocks. Drilling a new well on the Hedonia Structure is under consideration by the joint venture. The potential of this Broome Arch area is the prospectivity for both mid to large size oil and gas discoveries. Other wells with significant shows include Goldwyer-1 with oil shows in the Willara Limestone, and Willara-1 with oil and gas shows in the Permian Grant Formation. The EP 438 Permit and these prospects are located close to the Great Northern Highway allowing easy access and allow for extending the exploration season closer to the “wet” season. In addition, EP 438 is located comparatively close to port facilities, providing for the cost effective transport of oil and access to gas pipeline infrastructure, should hydrocarbons be discovered. Buru, to date, have completed an aeromagnetic survey, the West La Grange Aeromagnetic Survey, and are to complete the reprocessing of seismic for its registered 5% interest in EP 438. Depending on the well drilled under the Farmin Agreement, the sum of $3 million may include any completion and testing of the well. If the Hedonia Structure is drilled, Empire estimates the potential recoverable oil reserves, if hydrocarbons are present and the structure is filled to its mapped spill point, to be 5 million barrels of oil.'
(20min delay)
