index oils press release announced an independent report on its operations, and a lot of mentions of NT.. this report is only just released now..
it appears in terms of exploration, for them its a significant prospect..
http://www.otclive.com/IXOG_Initiation_Report[TSC].pdf page 11, and remember its a 8% WI well for them..
these things are of interest
On September 10, 2006, the Company signed an agreement to participate in the New Taiton Project in Wharton County, TX.
The first well, Ilse 1 has been drilled and logged with completion results pending, targeting stacked Wilcox sands on trend with large nearby gas fields producing gas from the same Wilcox reservoirs. The prospect is defined by modern 3D seismic data. If Ilse 1 proves successful, the Company expects to participate in further wells to develop the potential of the New Taiton Project.
The Company has a 10% working interest before payout and an 8% working interest after payout in the New Taiton Project
The first well, Ilse No. 1, will target stacked Wilcox sands; nearby gas fields have cumulative production in the 30 BCF range from the same reservoirs. There are at least 3 wells planned for the project in a successful scenario, based on the commerciality of the initial well. Drilling of Ilse 1 began in December 2006 targeting Middle Wilcox sands at approximately 17,000 feet. Ilse 1 has now been drilled and logged with completion results pending.
"This project is also in keeping with the Index’s strategy to participate in prospects with larger potential "
The following 5 wells (including a low risk production well) are planned to be drilled, plus the prospective completion of Ilse 1 during the current fiscal year ending 31 March 2008:
I see a very upbeat, bullish and optomistic view on the well is still there..
After seeing this i cant see NT as being lost!! much more is happening there..
all imho and dyor
ADI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
