Statoil Australia Theta started drilling operations at the OzBeta-1 vertical exploration well, located in EP 127, south Georgina basin, Northern Territory, Australia. The well will be drilled to an approximate depth of 1300 m. The well will test three potential pay zones within the structures and formations in that area, particularly targeting a 40- to 50-m section expected within the Thorntonian Limestone formation. Statoil (60%) is the operator, with partners Baraka Energy & Resources (25%) and PetroFrontier(15%).
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