Australia's Gas2Grid disclosed in a statement Sunday that it has spudded the Gumamela-1 exploration well in its wholly-owned Service Contract 44, onshore Cebu island, in the Philippines.
Gumamela-1, which targets up to 15 million barrels of recoverable oil, is the second well being drilled in Gas2Grid’s current three-well exploration program. It will test a Miocene age Cebu limestone pinnacle reef, along with secondary targets in the overlying draped sandstone reservoirs of the Malubog and Toledo formations.
Drilling is expected to take around 25 days to reach a total depth of between 3,281 feet and 4,265 feet (1,000 meters and 1,300 meters). Gumamela-1 is sited 3 kilometers (2 miles) of the recently drilled Jacob-1 well, which failed to encounter any hydrocarbon shows while drilling.
Commenting on the results of the Jacob-1 well and the prospects for the Gumamela-1, Gas2Grid said in its statement that "the tight nature of the limestone reservoir encountered in Jacob-1 does not necessarily translate to the Gumamela reef."
Gas2Grid added that Gumamela-1 has good prospects for the sandstone reservoirs that will likely be present in the section overlying the limestone reef target; the same sandstones which are oil and gas bearing in the nearby Toledo and Alegria oil fields.