ARC have released another progress report on the Xyris hole this...

ARC have released another progress report on the Xyris hole this morning, sounds promising and it seems the market agrees.

Initial wireline log interpretation has indicated the well contains a potentially significant gas column
in the primary objective Dongara Sandstone section. Hole conditions have however prevented the
acquisition of wireline pressure data required to definitively evaluate the extent and quality of the
net gas pay. These results will be obtained over the next couple of days if hole conditions permit.
If it is not possible to obtain wireline pressure data, the well will be cased and production testing
will be undertaken as soon as possible to obtain reserves, deliverability and gas composition data.