"The well was drilling through what is expected to be the Marg Tex 3 Sands at 16,300ft and accordingly the project partners agreed to extend the well a further 200ft. The Marg Tex 3 is highly productive in analogue fields immediately to the south of the Lyons Prospect. Procession Drilling agreed to complete the extra 200ft under an extension of the drilling Turnkey contract"
IMO that is very very positive. To want to drill down further 200ft there has to be a very good reason too!!!
Exciting times in my opinion....good luck all
VIL Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held