"big drilling coming up in canning basin"
In May, Arc Energy plans a deep well in EP-104 to test the large Valentine structure, which has potential for over 1 Tcf of gas plus significant amounts of associated liquids. This well will also test a shallower, lateral extension of the Stokes Bay prospect, which could be further tested with a separate shallow well drilled to intersect its crescent, after the Valentine well. A discovery at Valentine would be worth over $2 per share for Emerald and would add considerable value to its 100% held, EPA 4/05-6 permit on-trend to the west.
big drilling coming up in canning basin
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