Lakes Oil (ASX:LKO) has drilled its Yallourn Power 1 well to a depth of 454 metres at its PEP166 onshore Gippsland Basin.
The primary target is the carbonaceous source rocks within Tyers Group. The well is being drilled as a stratigraphic corehole between two Tertiary highs on the northern side of the Morwell Fault.
It is being drilled to further the proven extent of the carbonaceous source rock sequence expected to exist across much of the Gippsland Basin.
The prognosed total depth for the well is 1200 metres.
Casing has been cemented in from surface to 454 metres and the well is expected to take about 40 days to drill.
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News - Lakes Oil Yallourn Power 1 well at depth of 454 metres; seeks oil source
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