Geodynamics prepares spudding for Habanero 4 in the spring of 2012

Geodynamics prepares spudding for Habanero 4 in the spring of 2012 Aerial view of Habanero-1 in the Cooper Basin, Geodynamics site (source:
Alexander Richter 17 Jan 2012

Australian developer Geodynamics as operator of the Innamincka Deeps JV announces that preparations for the Habanero 4 well are well advanced and expects to spud the Habanero 4 well this spring.

In an announcement today, Australia Geodynamics Limited as operator of the Innamincka Deeps JV reports that preparations preparations for the Habanero 4 well are advanced and the Joint Venture remains on target for spudding the Habanero 4 well in Q1 2012, as previously announced. All required regulatory approvals and clearances are in progress and will be completed in time for an anticipated spud date of February 2012.

Geodynamics’ Managing Director Mr Geoff Ward has confirmed that personnel and equipment are now being mobilsed on site in readiness for drilling activity.
“Our drilling contractor Weatherford Drilling International has been notified to move drilling crews back to site and commence crew training. Material and other service contractors have also been engaged in preparation for a planned spudding before the end of February 2012.”

“We remain very focused on our drilling program. Habanero 4 represents the first major step in an appraisal program designed to demonstrate a commercial scale energy project at the Habanero site within the next two years.”

Habanero 4 will be drilled using Rig 100, with the program expected to take approximately four months. The Joint Venture plans to drill the Habanero 4 well to a target depth of approximately 4,170 metres to access the existing fracture zone. Following achievement of this objective, the well will be tested to secure data necessary to continue reservoir development studies and validate reservoir models.

On the basis of the well information obtained, the fracture zone may then be locally stimulated similar to that performed at Habanero 3 with the purpose of extending the fracture

“Our return to operations at Habanero is a significant step towards the development of this valuable resource for Australia,” concluded Mr Ward.”

Source: Company announcement (pdf)