Westralian update on Kentucky oil project
Tuesday -April 24:Westralian Gas and Power Ltd (ASX code: WGP) reports the fourth load of oil from the Riddle-7 well in Kentucky, USA was delivered to the refinery on Friday April 20.
Total volume from Riddle-7 to date is around 400 barrels, being incidental oil production during drilling operations and during setting of the beam pump and production string.
The well has now been fitted with its beam pump, but has yet to be connected to electricity (connection expected in the next few days).
In the mean time it is flowing naturally to surface under reservoir pressure. "This is extremely encouraging for the expected production to occur using the beam pump," directors said.
Riddle-5 is being fitted with a beam pump and it is anticipated the well will be put on production by the end of the week.
This well is not producing oil to surface naturally because it is significantly higher above sea level than Riddle-7.
The Riddle-6 well site has now been prepared and permit to drill issued. The drill crew is due on site by Friday April 28 and it is expected to intersect the same producing horizons as Riddle-7 and 5.
Once the drill crew is released from Riddle-6 it will move to the Stockton lease to drill two seismically defined structures in the Murfreesboro Formation.
Westralian is now permitting a further four well locations on the Riddle lease to follow the drilling on the Stockton lease.
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