AWE, together with their joint venture partner, Titan Energy Limited, announced on 30 May 2014 that Enerdrill has been awarded a 2 well contract as part of it's appraisal drilling campaign in the North Perth Basin. The first well, Drover #1 is planned to spud late June 2014 and is anticipated to take 28 days. The second well is expected to follow immediately after. This is the first drilling campaign for Rig-3 and a significant milestone for Enerdrill.
Enerdrill’s Rig-2 completed its first drilling campaign in May 2014 with the NSW government. The campaign was a huge success being completed with zero (0) Lost Time Incidents (LTIs) and only 7 hours down time.
Argonaut has been integral to the establishment of Enerdrill which currently owns 3 drilling rigs and 1 workover rig which are capable of drilling from depths of 1,000m to 5,000m. Scarcity of rigs remains the primary bottleneck constraining Australian onshore exploration and with some competitors being forced out of the market due to poor performance and safety records, this puts Enerdrill in an ideal position to take advantage of the backlog of companies seeking to drill onshore Australia.
For further information on Enerdrill please visit their website at www.enerdrill.com.au.