- Norwest Energy (NWE) spuds its Lockyer Deep-1 conventional gas exploration well within the Perth Basin in Western Australia
- Drilling is set to test a larges structure at the Kingia and High Cliff formations which it says is on trend with similar previous discoveries
- The well is set to be drilled to 4185 metres, which is expected to take roughly 35 days
- Lockyer Deep-1 sits within Exploration Permit EP368 and is held in a joint venture arrangement with Energy Resources
- Norwest Energy shares were down 8.33 per cent to trade at 1.1 cents
Norwest Energy (NWE) has spudded the Lockyer Deep-1 conventional gas exploration well within the Perth Basin in Western Australia.
The first drilling took place late into the evening of July 18 and will test a large structure at the Kingia and High Cliff formations, on-trend with previous discoveries within the Permian deep gas play of the north Perth Basin.
Norwest hopes Lockyer-Deep 1 may give way to similar gas discoveries made at Waitsia, West Erregulla and Beharra Springs Deep, which resulted in three substantial gas discoveries from three exploration wells in the Perth Basin.
Drilling is expected to take 35 days to reach its projected total depth of 4185 metres, and the company intends to update the market when it has reached the surface casing point at approximately 1140 metres.
Lockyer Deep-1 sits within Exploration Permit EP368 and has an estimated Geological Chance of Success of 38 per cent.
The permit is held in an 80:20 joint venture between Energy Resources and Norwest Energy, respectively.
Norwest had initially laid plans to commence at the project in the first half of 2020.
Norwest Energy shares were down 8.33 per cent to trade at 1.1 cents at 1:32 pm AEST.