Helper Gas Project based in Utah, USA; • Listed on the Australian Stock Exchange, with the Company’s Shares trading from 30 November 2005 at a premium to the IPO share price of 20 cents; • Commenced completion operations on the Kenilworth Railroad #1 and #2 wells, with the KRR #1 well successfully completed in January 2006 with a flow rate of 1.3 million cubic feet of gas per day (which is more than 4 times the average for the area); • Commenced preparatory work for the drilling of the next three wells in the current 10 well programme of which two wells (Cordingly Canyon 15-1 and 15-2) have been spudded at the time of this report and the third well is expected to be drilled by mid February 2006. Marion Energy Limited (ASX Code: MAE), Operator of the North Helper Gas Project. Marion has advised that on a trouble free basis and provided that the wells are commercial, up to 5 wells are expected to be completed, tied in and generating cash flow for the joint venture parties by the end of March 2006. The North Helper Gas Project comprises approximately 5,000 acres located along the northern edge of the Helper Field on the same Ferron CBM trend as the Drunkards Wash CBM Field in Utah, North America. Drunkards Wash is the largest producing gas field in Utah, averaging 5.4 BCF
ODY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
