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Drillsearch Energy discovers Barrel Oil Field Discovery at Bauer-1
1 August 2011: Drillsearch Energy fourth plans new field oil discovery in the Western Flank Oil Fairway at Bauer-1.
Bauer-1 encountered a gross oil column of 15 metres, with 13 metres of net pay, in the McKinlay-Namur Sandstone section of the well. Beach as operator has advised that the preliminary volumetric assessment suggests Reserves of up to 2 million barrels of gross recoverable oil. Oil shows were also encountered in the Birkhead Formation over a 12 metre interval. These shows are currently being evaluated.
Bauer-1 is expected to be on-line in the December quarter 2011.
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