Linc Energy discovers oil shows in Arckaringa basin

Linc Energy discovers oil shows in Arckaringa basin

BRISBANE, Australia -- Linc Energy has detected hydrocarbon shows in the Stuart Range Formation at the Pata 1 exploration well, located in PEL121, in the Arckaringa basin.

The Stuart Range Formation was intersected at 1039 m and has been interpreted to be 143 m thick. This is the first occasion that the Stuart Range Formation has been intersected at this depth in any exploration program in the Arckaringa basin.

The oil shows in the Pata 1 well were logged in the cuttings from the Stuart Range Formation between 1137 m to 1182 m.

Dull pale brown, even fluorescence, was found in a siliceous siltstone with minor fine grained sandstone and increased with depth from approximately 10% at the top of the unit to 90% at the base of unit, providing evidence of an oil bearing formation.

Drillling will continue at Pata 1 through both of the deeper Boorthanna and Pre-Permian formations. The rig is was drilled ahead in the Boorthanna Formation at a depth of 1600 m and is planned to be drilled to a maximum total depth of approximately 2345 m.

Pata 1 is expected to take 35 days to complete and will drill through each of the three key formations.