Ironbark Weekly Drilling Update #5 As At 3 December 2020 (NZ Time).

Posted on 4 December 2020

As at 6:00 3 December 2020 (AWST) the Operator has advised that the Ironbark-1 well had reached a measured depth of 3801 metres and is continuing to drill the 16½” hole.

In the past week we continued to drill the 16½" hole.

The Ironbark well will test the Triassic Mungaroo Formation with multiple sand objectives. The reservoir has been explored nearby at comparably shallower depths and includes discoveries at the Gorgon, Goodwyn and North Rankin gas condensate fields. The primary target is at a depth of 5668 metres TVD subsea in water depths of 301 metres. The well is expected to take around 85 days to drill.

Participants in WA-359-P are BP Developments Australia Pty Ltd (Operator, 42.5%), Cue Exploration Pty Ltd (21.5%), Beach Energy limited (21%) and NZOG (Ironbark) Pty Ltd (15%).


Ironbark weekly drilling update 5 Dec 4 2020