re: commercial discovery - oil Cheers, Pol6.4:-"Icon Energy is...

re: commercial discovery - oil Cheers, Pol

6.4:-
"Icon Energy is pleased to report that the first oil target zone drilled in the Australian Mineral Interests Well No.1 located in the Victory Financial Lease at Bayou Choctaw is a commercial discovery."

"Side wall cores and logs indicate that the net pay intervals totalling 74 feet are entirely hydrocarbon bearing. The oil quality is 34 to 38 API and permeabilities and porosities in the sandstone reservoir are unexpectedly high as reported previously."

"The well has been cased and cemented ready for future production and the completion of the well will be determined in combination with the data to be gained after the deeper target is penetrated over the next 1100 feet."