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Bengal Energy Ltd. Announces Legbar-1 Exploration Well Update
Calgary, Alberta--(Newsfile Corp. - October 14, 2021) - Bengal Energy Ltd. (TSX: BNG) (" Ben...
About this update from Bengal Energy Ltd.
[{"type":"text","content":"Bengal Energy Ltd. Announces Legbar-1 Exploration Well UpdateCalgary, Alberta--(Newsfile Corp. - October 14, 2021) - Bengal Energy Ltd. (TSX: BNG) (\"Bengal\" or the \"Company\") today announces that drilling of the Legbar-1 exploration well (the \"Legbar-1 Well\") operated by Bengal's farm-in partner Santos QNT Pty Ltd (\"Santos\") and located in a 420 square kilometers (104,000 acres) block (the \"Santos Farm-in Block\") in the southern portion of Authority to Prospect 934 (\"ATP 934\"), has been completed. Data indicated that the Legbar-1 Well intersected good quality reservoir sands within the primary Permian Toolachee formation, however these sands contained insufficient levels of hydrocarbon pay for commercialization. Following a review of the well logs, Santos and Bengal have jointly decided to plug and abandon the well. The joint venture continues to remain focused on evaluating the Permian natural gas prospective potential of the Santos Farm-in Block, based on the learnings from the Legbar-1 Well. As previously announced, Santos paid 100% of the costs to drill, plug and abandon the Legbar-1 Well and has accordingly earned a 60% working interest in the Santos Farm-in Block and is operator. Bengal holds a 40% working interest in the Santos Farm-in Block and holds a 100% interest in the balance of ATP 934 and the surrounding Petroleum Leases PL 188, 411, 1109 and 1110, which are located within the Cooper Basin, Queensland, Australia.While the Legbar-1 Well did not indicate commercial quantities of hydrocarbons, thick, high quality reservoir sands were encountered in the primary Permian Toolachee formation with evidence of residual hydrocarbon saturation. In addition, good fluorescence shows and elevated gas readings through the Jurassic lower Birkhead Fm/Top Hutton Sandstone indicate oil has passed through the reservoir, supporting the search for a valid closure to test this play. The findings from the Legbar-1 Well will help Bengal refine its exploration targets going forward, both with Santos in the Santos Farm-in Block, and across the balance of ATP 934. Details of upcoming exploration and development activities within ATP 934 are expected to be announced in a subsequent update. About BengalBengal Energy Ltd. is an international junior oil and gas exploration and production company with assets in Australia. The Company ...