Nangwarry-1 Well Drilling - All’s WELL that ends WELL !!!

Secondary Target ReservoirNot Gas Bearing !!!

Thesecondary target reservoir had been intersected but, unfortunately, was notgas-bearing.

Primarytarget, the Pretty Hill Formation where two potential gas-bearing intervals(each about 140 meters thick) were encountered, Logging is now under way.

Logging Tool GotStuck !!!

ASX:VEN- Update Announcement of Date (1/7/2020).

Thejoint venture is pleased to advise that initial wire line log analysisindicates calculated gas saturation over a 120 meter gas column in theupper-Pretty Hill Formation. However, during logging operations, the loggingtool got stuck in the hole and was recovered by fishing operations which hasdelayed the evaluation of a potential 160 meter plus gross gas column in themid-Pretty Hill Formation. The strategy to evaluate this lower section iscurrently being reviewed by the joint venture, with hole conditioning prior torecommencing logging operations currently underway.

Sofar so good,
what about :-

LKO Relisting Date !!!

As ASX has advised it cannot allow a resumption of trading until LKO secure a clean audit report, if announced CR’s acceptable, the earliest IMO would be with upcoming Quarterly Report expected at the end of every quarter ie., 31^st.January 2020. That is four long months being in suspension.

PNG – No news yet onextension of term of License !!!

“TheCompany will be moving quickly to secure an extension of the term of the License,to compensate for time lost through the purported cancellation, and toimplement arrangements to facilitate an early resumption of explorationactivity”.

Only then can it seek substantial farm inpartners in PNG ?

2020 and still waiting!!!

DYOR , CHEERS !!!