The first gas show at the start of the surrounding area's producing formation . Followed by an oil show of good quality . No news on how much but it isn't the primary target anyway . Further drilling to just above the main target and we have a continuous gas show . Main target only 150ft away and already shows gas/oil and gas/? . No water issues and , as gas is normally found above oil not water , the reservoir that has been seismically shown to be 150ft away should be full of oil not water ! OK a production tubing is in and tested allowing for the hole to be safely continued . On time and on budget . No problems .
We are 100pc ready for oil.
VIL Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held