Would not writeoff Para 1 totally yet as it may be able to still contribute later "The well exhibits a rapid pressure recovery following production suggesting that it is capable of sustained high gas rates as witnessed during the testing. Work on Paradox Basin #1 is pending further evaluation of the test results. Yes bottom draw for a while but not that long possibly as....... Planning has commenced for a third well on the field. Paradox Basin #3 will target the crest of the Ismay Formation approximately 1.8km north east of Paradox Basin #1 along seismic line 99X. The well will be drilled from the Paradox Basin #1 pad and will deviate at approximately 36 degrees to intersect a possible reefal build-up observable on the seismic. Well design and engineering are in progress. The company is in discussions with US financial institutions who have expressed an interest to debt fund development drilling. I would say that approvals would be alot quicker going this route and that is why they are intending it this way.
GDN Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
