'Very promising results' from Sunshine's Lacerta 10:21, Tuesday, 27 March 2007
Sydney - Tuesday - March 27: (RWE Australian Business News) - Sunshine Gas Ltd (ASX code: SHG) today reported the Lacerta pilot and core-hole drilling program in ATP 795P had continued to deliver "very promising results in line with expectations". Managing director Mr Tony Gilby said the drilling programs were progressing well as the company continued to gather essential data for the certification of reserves. "The core-holes are establishing the lateral extent and thickness of the target coal seams in the Lacerta gas field area. "We are expecting dewatering activities to ramp up significantly over the coming weeks," he said. Down-hole pressure sensors are being installed in Lacerta pilot wells 5, 6, 7 and 8. Following completion of this operation, pump rates will be increased in all wells to initiate the dewatering process in earnest. Shares in Sunshine Gas traded steady at 48c this morning. ENDS
SHG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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