"In late November 2006, the well intercepted a severley fractured zone below 970 metres resulting in total mud loss and water invasion. To date the company continues to address the problems of mud loss and water management through a comprehensive cementing program.
Currently the well is at 1073 metres and drilling through a sequence comprising carbonaceous claystones with interbedded sandstones and coal."
So we're now 100m below where the problems started, looking good. I especially like the sound of:
"Subject to rig availabity and casing delivery schedules, production test drilling is planned to commence in mid 2007..."
EPG Price at posting:
0.0¢ Sentiment: None Disclosure: Held