Target Energy - Australian petroleum exploration and production company.

East Chalkley Oil Appraisal & Development Project (Target Energy 35% working interest)

On 27 October 2009, Target announced it had acquired an additional 10% interest in the East Chalkley Oil Field, elevating its working interest across the field to 35%.

This increased working interest augments Target`s existing reserves and production associated with the field by 40% and represents an approximate 27% increase in the company`s total net reserves and resources.
Operated by Magnum Hunter Resources, the East Chalkley project is an oil field appraisal and development program, approximately 33 kilometres south-east of the town of Lake Charles in Cameron Parish, Louisiana.
Target participated in the successful drilling of the Pine Pasture #2 well in 2008. Production from this well is currently stable at approximately 83 BOPD with an 18% oil cut.

A disposal well was drilled in November 2009 to allow enhanced production. A recent RISC report assessed mean recoverable reserves and resources of 2.1 MMBO with an upside (P10) estimate of 4 MMBO recoverable.