Rhino Resources says the Capricornus 1-X well on Block 2914 under PEL 85, spudded on February 17, 2025, found 38m of net pay, with the reservoir showing good petrophysical properties and no observed water contact.
The licence is jointly owned by Rhino Resources, which has a 42.5% working interest, Azule Energy at 42.5%, Namcor at 10%, and Korres Investments at 5%.
Azure Energy is owned by bp (50%) and Eni (50%).
The joint venture hires the Noble Venturer drillship to drill the well to a total depth of 4,957 metres, penetrating the Lower Cretaceous target.
The companies collected hydrocarbon samples and sidewall cores through intensive wireline logging operations.
In addition to wireline acquisition, the well completed a production test across the light oil-bearing reservoir.
The well achieved a surface-constrained flow rate of over 11,000 stb/d on a 40/64” choke.
The light ~37° API oil exhibited limited associated gas with less than 2% CO2 and no hydrogen sulphide. Laboratory studies will be conducted on fluid samples collected during the test.
The well will now be temporarily plugged and abandoned, and the rig will be released.
