What's material for NEN is not necessarily material for ENI, the operator and dominant partner, and they may have an interest in limiting disclosure about the well.
Having said that, the expectation is that there will be an announcement regarding the results of this logging operation. If all goes well we will hear something like:
"Wireline logs confirmed the presence of gas in the three zones of interest, with a total gas bearing interval of xx metres. Subsequent formation pressure testing and sampling showed excellent permeability and low levels of CO2"
Full flow testing won't happen until after they complete the drilling program, as they usually have to bring a fair bit of testing kit out to the rig. It shouldn't take too long to drill the last 300m or so to TD, so they could begin testing in as little as two weeks. Only then will we get a reliable indication of potential production rates and reservoir size.
NEN Price at posting:
29.0¢ Sentiment: ST Buy Disclosure: Held
