PRL 26 (Udacha)

PRL 26 (Udacha) - (Rawson Oil and Gas 10%, Non-Operator)

Rawson Oil and Gas has a 10% interest in the PRL 26 (Udacha) Joint Venture.

  • Production of wet gas from Udacha-1 commenced July 2016, providing a cash flow to the Company

  • Initial production from Udacha-1 is expected to stabilize at 1.0 MMscfd, increasing to 1.6 MMscfd once compression is available at Middleton in early 2017

  • The Lowry prospect, located within PRL 26, provides attractive upside to the licence, estimated at a mean un-risked resource volume of 7 Bcf raw gas

  • Subject to JV approval it is expected that the Lowry-1 well will be drilled in 2017

  • Several additional leads have been identified for further technical work which may result in future discoveries after drilling.

 

 

Rawson Resources earned its 10% interest in the Udacha field by contributing 20% to the cost of drilling of the Udacha-1 well. The Udacha discovery was later distinguished from PEL106 and PEL91 by establishing the Retention License (PRL 26).

The Udacha-1 well was drilled in 2006 and discovered wet gas in the Patchawarra sands. The DST flow tested a gas-condensate discovery, and sustained a flow rate at 440,000 cubic feet per day with a condensate/gas ratio of 13 barrels per million cubic feet. An Extended Production Test (EPT) later achieved flow rates of 1.4 MMscf with a high skin factor, and indicated a 2P reserve of approximately 5 Bcf.