HIGHLIGHTS: - CLRS mobilised at Woodside?s Remy 1A well - Coretrack personnel are currently on site at the well waiting for coring to commence Coretrack Limited (ASX code: CKK) is pleased to announce that the Company?s Core Level Recorder System (?CLRS?) has been mobilised in an engagement with Woodside Energy Ltd (in conjunction with the drilling service provider, Halliburton Australia Pty Ltd) to test the full system in a well environment and provide real time core data acquisition information in respect of the Remy 1A well. The CLRS tool and Coretrack technical personnel are currently on Woodside?s Remy 1A well, located off Western Australia?s North West Shelf, waiting for coring to commence. The CLRS is anticipated to be used to measure the acquisition of core and provide real-time coring data to the rig floor. The tool is designed to enable drillers to make decisions about continuing or discontinuing the coring process based on hard facts rather than on less reliable drilling parameters such as ambiguous changes in torque and mud pressure. This tool has the potential to save the off shore oil & gas industry millions of dollars in reduced rig hours alone. Coretrack CEO, Mr Nanne van ?t Riet said ?at this stage we are anticipating that coring will commence within the next few days. We are pleased that our technology has been utilized on the Remy 1A well and believe that this tool has the potential for greater use in the industry.? The Company will keep the market informed as to progress.
CKK Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
