The Bungaloo-1 is the second of two deep wells targeting the Casterton Formation within the Penola Trough of the onshore Otway Basin.
Running in hole with 13.375 inch casing in accordance with the drilling program, the well was at a depth of 2,024ft (617m) in the Eumeralla Formation.
Within the Casterton Formation, the well’s primary objective is assessing the oil and gas potential of shales and is expected to be drilled to a total depth of 12,063ft (3,677m) to collect over 328ft (100m) of conventional core.
The well is expected to intersect the Casterton Formation approximately 1,640ft (500m) shallower than Jolly-1, which was drilled to a total depth of 13,208ft (4,026m) in April 2014.
Located in permit PEL 494, 8.67 miles (14km) north-west of Jolly-1, Bungaloo-1 drilling and completion will conclude the current drilling program in the Otway Basin.
