As you know the ASX will be closed this coming Friday for the ANZAC Day Holiday. Since our normal Friday release will now be moved to early next week I wanted to at least pass along some information on the company’s Park City progress. Here are just a few items to help bring you up to date.
· I have included an updated well location map. I know that many of you like this format so we will continue to produce it for you. You will notice that we have identified the next two well locations. Drilling should begin at those two new locations tomorrow and wrap-up late next week. They are located near the delivery pipeline. We will announce those wells accordingly.
· The gas processing plant is ready to begin receiving its initial natural gas flows. Some of the original wells drilled at Park City will begin delivering gas to the plant over the next 48 hours or so. The next four weeks will focus on bringing the plant from a startup capacity to a 24 hour a day full capacity. When it reaches full capacity the Atmos Energy Company will hold an official grand opening. Ribbon cutting, tour buses etc. I’ll have a special announcement and a new area of the web site ready for that big day.
· We have the opportunity this week to finally stimulate and connect our first well. We have selected one of the recent Spillman wells as our first to stimulate and connect to the pipeline. The operator expects to have this started on Friday here in the U.S. and completed by early Monday. The remainder of the wells will follow.
I’d also like to thank you for continuing to support Austin Exploration as we awaited this milestone event at Park City to finally arrive. Everything is lining up quite nicely at the plant and in the field. The anticipated improvement in the local weather conditions has also arrived. It’s not freezing anymore!
Until then please enjoy your long weekend.
All the best,
Kenny
AKK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
