Sunshine Gas wells 'extremely encouraging' 11:37, Monday, 27 November 2006
Sydney - Monday - November 27: (RWE Australian Business News) - Sunshine Gas (SHG) reports the Lacerta Coal Seam Gas (CSG) Pilot well drilling has been completed. Mitchell Drilling Rig 1 has cased and suspended the Lacerta 7 CSG pilot well over the weekend and has now been released from contract. Preliminary indications from the initial four wells are "extremely encouraging", with good free gas flows being recorded during drilling, together with accompanying strong water flows. This suggests both good gas saturation and permeability to be present in the area of this initial Lacerta CSG pilot. The next phase of drilling activity on Lacerta will include additional core-hole drilling to delineate the extent of the Lacerta Field, followed by a second pilot well program in a location that will maximise potential reserves. ENDS
SHG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)