JP - Someday this one will pay off - NEWS
and I have not been posting them all as there are some previous ones to this
Daytona's Canhidir-1 reaches a depth of 1,256 metres
Daytona Energy Corp DYT
Shares issued 18,792,306 Jan 17 close $0.11
Tue 23 Jan 2001 News Release
Mr. Bob Berven reports
The Canhidir-1 well in the Thrace basin of European Turkey spudded on Jan.
9, 2001 and has on Jan. 22, 2001, reached a depth of 1,256 metres (4121
ft).
The 9-5/8-inch casing string was set and cemented at 305 metres (991 feet)
prior to drilling ahead with an 8-1/2-inch hole. The well will be drilled
to a total depth of approximately 1,400 metres (4,590 feet) -- zones of
interest are Miocene Danismen Sandstones and the Oligocene Osmancik
formation.
Gas shows were encountered within the Danismen Sandstone where the drilling
rate also increased significantly. Total gas reached a maximum of 46 units
averaging 25 units, whereas the average above and below the Sandstone was 3
units and 6 units, respectively. The chromatograph reading showed 10,120
ppmC1 (methane) with 3,100 ppm and 4,200 ppmC1 above and below the
sandstone, respectively. All target horizons will be evaluated once the
well has reached total depth and logging completed.
Working interest holders in the Kandamis licence include:
Wilco Turkey Limited 57.5%
Zarara Oil and Gas Limited 25.0%
F H Kandamis Holdings Limited 12.5%
Daytona Energy Corporation 5.0% |
