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Quadrant Energy Set to Spud Roc-1

Quadrant Energy has received the Noble Tom Prosser drilling rig and will spud the Roc-1 well, offshore W. Australia.

According to Carnarvon Petroleum, a partner in the licence, the drilling rig will move to the Roc-1 well site in WA-437-P and prepare for spud around November 17, 2015.

The Roc-1 well will target the same Lower Keraudren reservoir in which oil was discovered in the 2014 Phoenix South-1 well by the same joint venture partners in the adjoining WA-435-P.

Contingent on the success case, the plan is to re-enter the Roc-1 well bore in Q3, 2016 for comprehensive testing (including flow testing) and coring.

Carnarvon Petroleum’s Managing Director Adrian Cook said, “We’re pleased to be nearing the spud of the Roc-1 well and look forward to reporting the results as the Operator, Quadrant Energy progresses through the drilling program.”

The equity interest holders (upon satisfaction of the farm in agreement terms) in WA-437-P are:

Carnarvon Petroleum 20%

Quadrant Energy (Operator) 40%

JX Nippon 20%

Finder Exploration 20%