Wire line formation pressure and fluid sampling confirm the presence of moveable oil with 48 degree API oil being recovered in the sampling tool.
Snatcher-1 was a successful test of the oil bearing potential of the Snatcher prospect adjacent to the Santos Limited operated Charo field in PPL 177. The PPL 177 license is wholly contained within PEL 111.
The participants in the drilling of Snatcher-1, Snatcher-2, and PEL 111 and their respective interests through their wholly owned subsidiaries are as follows: Victoria Petroleum 40%, Impress Energy Limited 40%, Permian Oil Pty Ltd. 20%.
