Butler-1 is located 2.6 kilometres north of Perlubie South oilfield. The well is expected to cost AUD1.64 million ($1.28 million) to drill and will test a 1.37 million barrel oil prospect in the Namur sandstone.
The partners in the Butlers-1 well are Beach Petroleum Limited with 75% stake and Cooper Energy 25% stake.
The joint venture of PEL intends to drill three other wells, Cheetima-1, Wilunga-1 and Murninnie-1 after completing Butler-1.
