Exploration

Creating conditions for an increase in the resource base is one of the strategic goals that Lakes Oil  is striving to attain. A reliable resource base ensures production of raw hydrocarbons corresponds to the target figures, supporting stability of operations. The company invests in technical evaluation, undertakes extensive geological studies, extends the range of licenses, while steadily replacing oil and gas reserves. 

 

Application of new technologies and equipment, along with support from research and development institutes and design centers, is an essential rule to stick to during geological exploration. This principle is instrumental in improving efficiency of the taken measures.Nangwarry-1 gas well is now drilling through the Pretty Hill Formation at 3,450 metres measured depth (mMD). The Pretty Hill Formation was encountered at approximately 2,940 mMD, with elevated gas readings experienced across an interval of 140 metres. The significance of this gas will be investigated through logging after completion of drilling. 

 

The second target, the Sawpit Sandstone, lies immediately below the Pretty Hill Sandstone at around 4,094 mMD. It is anticipated drilling will reach the Sawpit Sandstone by the end of this week.

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