Clearing of the Overston 2 well site is now progressing rapidly since the ground dried out for Samson and Sunshine Gas [SHG/SHGO]
The rig move will commence this week with spudding next Monday 23 February 2004.
The location of Overston 2 has been selected approximately 1 km south of Overston 1 using the recently acquired 3D seismic data.
Overston 2 will appraise 2 zones of interest...the SHowgrounds Sandstone and Tinowan Sandstone both of which were gas charged in Overston 1. Tinowan is proposed to be drilled with air/nitrogen.
After drilling Overston 1 SHG commissioned an independent expert report on the potential of the Overston feature. This report calculated a mean gas in place of 137 billion cubic feet !!!!
SHG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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