Adelphi Exploration Limited (Adelphi) is pleased to provide the market with an update on operations at the Kowalik -1H well within the Sugarloaf AMI.
Kowalik-1H
Adelphi has been advised by the operator, Texas Crude Energy Inc (TCEI), that at 6am Texas time on the 30 September, 2008 the well had reached a measured depth of 15,239 feet, which equates to approximately 3,500 feet of horizontal section within the Austin Chalk. The current operation is pulling out of hole to assess the drilling assembly.
Since the last report the well has continued to produce gas intermittently while drilling, with larger flares observed following periods of shut in when tripping to change components of the drilling assembly. The surface gas readings have averaged 2,000 units during this section.
More significant gas flares including a 50 foot flare were observed while drilling the horizontal section prior to pulling out of hole.
ADI Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
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