Westralian Gas and Power Limited is pleased to announce that it's Riddle #11 well spudded yesterday Kentucky time, has intersected the first of the predicted oil zone at 545 ft (165m).
The zone is flowing oil to the surface at an average of 8.5 barrels per hour. This flow rate was established over a five-hour test period.
The well is flowing unassisted with no water cut into a 210-barrel tank on site. The well will now be allowed to flow under reservoir pressure while setting up to place on pump as soon as possible.
This new discovery well consolidates the Company's view that it is well placed in a significant oil fairway in this part of the Cumberland County.
WGP Price at posting:
0.0¢ Sentiment: None Disclosure: Held
