Triangle Energy (Global) Ltd (ASX:TEG) managing director Conrad Todd joins Jonathan Jackson in the Proactive studio to discuss developments at the Booth prospect in the North Perth Basin.
Triangle, as the operator of the L7 Joint Venture, has taken possession of the Ventia 106 rig, which will drill the onshore Booth-1 well. The rig is mobilising to the site and is expected to start drilling around July 31, 2024. The Booth Prospect comprises multiple oil and gas targets with a total Prospective Resource range of 113 billion cubic feet (Bcf) to 540 Bcf, with a Best Estimate of 279 Bcf (Gross 100%, on-block).
The Booth-1 well is targeting gas at the Kingia-High Cliff reservoirs and has potential for oil or gas in the overlying Dongara and Cattamarra Coal Measures sandstones. The well has a prognosed total depth of 2,900 metres and is expected to take around three weeks to drill. The well will deviate 800 metres to the southeast from the surface location, with a true vertical depth of 2,670 metres.
Triangle is also in discussions to secure a rig for drilling the Becos Prospect in the EP 437 Permit.
Todd highlighted the significance of receiving the Ventia 106 rig, marking the first well to be drilled in their permits in 30 years. Concurrently, plans for drilling the Becos-1 well in the EP 437 permit are also progressing, utilising new 3D seismic data.
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