Yet more good news from RRL this morning as they update the market on their Trinidad drilling programme. The current well, MD 251 has reached TD ahead of schedule and encountered 60′ of oil pay in the middle cruse sands. This well and the MD 250 will now proceed to production testing and the company anticipates bringing them both into production ‘in the current quarter’.
Meanwhile, the RRDSL rig, 18, has received Government approval and will drill the LD-1 which is now next in the 2016 programme and located at the Morne Diablo field. LD-1 is a vertical well and replaces the LD-3 which had been planned to be a directional well, it seems to be just as efficient and doesnt change forecast production levels.
Range still plans to drill a development well each on Morne Diablo and Beach Marcelle and an exploration well on the Guayaguayare block this year.
RRS Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
