Perth Basin oil find
NZPA Melbourne Oil has been discovered at the Mount Horner Five well in the Perth Basin of Western Australia, Condor Minerals and Energy, Ltd, has announced. Condor said swab testing was proceeding and the company expected to receive a more detailed report soon on the find from the well operator.
It gave no indication of the scale of initial flows. Testing of the well is being carried out by Pacific Basin Exploration Pty, Ltd. Area interests include a 29.25 per cent interest held by a group of individual American investors; Parrent Oil and Gas of the United States, 20 per cent. Condor Minerals and Energy, 15.75 per cent; and a disputed 35 per cent held by Western
Resources, Ltd. The Western Resources share has been challenged in court by the operator, Pacific Basin, which alleges Western Resources has defaulted on its financial obligations to the project. Mr Ken Smith, a Condor director, said the company expected to receive a detailed report on the testing next week.
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Press, 27 October 1982, Page 34
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170Perth Basin oil find Press, 27 October 1982, Page 34
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