So far the results seem positive. Operations remain on time, and on budget. $20.5m cash end of Qtr. " As the Company has been highly encouraged by the insights gained from Stage 1 of the testing program, particularly including indications of the permeability and porosity of the sub-surface structures, it has moved into advanced planning for a Stage 2 extended well testing program to be undertaken in June, subject to equipment availability and any required approvals. The Stage 2 exploration well testing will involve the mobilisation of existing specialised equipment to lift the water in the well bores. The method is standard in testing with a single completion via a pump attached with the tubing for the water to flow, and an annulus to produce a free gas. At surface, the gas from both systems will be recombined downstream of, a separator, with combined gas volume and flow rate measurement. "
GHY Price at posting:
$1.29 Sentiment: Hold Disclosure: Held
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