Greer-1
San Joaquin Basin, California, USA
Release No: 2Date: Mon 17 Nov, 1997
Victoria Petroleum N.L. advises that the Greer-1 well in the San Joaquin
Basin Project area, California, USA, commenced drilling on 15 November
1997. The Greer-1 well is testing the seismically defined Greer Prospect
which is interpreted to have the potential to contain in the most likely
case 26 million barrels of oil, if oil is present, in the Miocene
Sandstone at a target depth of 2,800 metres.
Greer-1 is planned to be drilled to a total depth of 3,170 metres in 13
days (plus 1 day if cased).
Pertinent information is summarised below:
Well Name:Greer-1
Permit:Location of Permit:San Joaquin Basin,
California, USA
Location of Well:Lat: Long: Proposed Depth 3,170 metres
Time of Reporting:Time: 2000 hrs WST Date: November 16, 1997
Well Depth: 177 metres
Elevation:
Hydrocarbon Indications:
Operations in last 24 Hours
Current Operations
Drilling Surface Hole
Operations in next 24 Hours
Drill ahead and set surface casing
Participating Companies:
Notes:
Victoria Petroleum N.L. has a 63.3% direct and indirect working interest
in the Greer-1 well.
Daily drilling reports will be made to ensure a fully informed market in
keeping with the rules of continuous disclosure of the Company's
activities.
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Bob,
More good stuff off of VicPet's site, eh mate?
I know you haven't bought any of this turkey because it hasn't opened for trading! What a joke for a stock that could potentially hit a well that could find a field that would cause it to quintuple!
If you think you may want to get some of this I would suggest you start putting in the buys soon. You only have 8 trading days to buy this stock before the drilling news is out. The trading is so thin that as soon as the market makers see your buys they will jack up the "ask". So you will need all 8 days to play with it in order to get any stock without driving the price up to $3.
Good luck! |
