Real Energy Spuds Maiden Cooper Basin Gas Well

Cooper Basin focused oil & gas exploration company Real Energy Corporation announced Monday that drilling has commenced on its maiden well, Tamarama-1.

The Tamarama-1 well is aimed at confirming the presence of gas in the Toolachee and Patchawarra formations and determining reservoir productivity.

A secondary objective of this well is to obtain samples from the Toolebuc Shale to further our knowledge of this potential shale oil play.

The well is expected to take approximately two and a half weeks to drill and complete from spud date.

Results from the initial drilling program will underpin Real Energy’s forward work plan, with successful wells to be cased and suspended for flow testing in early 2015, the company said.

Real Energy's acreage is prospective for basin centred gas (BCG), conventional oil and shale oil and gas.

“This upcoming drilling program will test the presence of BCG within ATP927P. An Independent Geologist’s report prepared for Real Energy (which was including in Real Energy’s prospectus) estimated that the Permian section in ATP927P and ATP917P contains a mean gross estimated petroleum initially-in-place of 10.2 TCF of gas,” Real stated.

Real Energy has 100% ownership in 3 large permits in Queensland – ATP 917P, ATP 927P and ATP 1161PA. These permits cover 8,314 km2 (2,054,435 acres).