PetroFrontier (PFC-V) starts drilling OzGamma-1 well
May 30, '14 - NR
The third well in PetroFrontier Corp.'s 2014 work plan and budget has now been spudded, and drilling is under way. The OzGamma-1 well is a vertical exploration well located in exploration permit 103. This is the third of up to five vertical test wells to be drilled as part of the 2014 WP&B. All wells will include an extensive open-hole evaluation program, and up to three of the wells will be cased for future hydraulic fracture stimulation and production testing.
Prior to the spud of the OzGamma-1 well, Statoil Australia Theta BV, PetroFrontier's joint venture partner and the operator of the 2014 WP&B, successfully drilled and cased the second well of the 2014 WP&B, OzBeta-1. All of the planned open-hole well evaluation activities have been completed and are now being analyzed. A total of 99.1 metres of core were recovered in a continuous coring process, which penetrated the Lower Arthur Creek and Thorntonia formations.
Subsequent to drilling the OzGamma-1 well, the rig will be moved to the fourth well location of the five-well program, OzDelta-1, located in exploration permit 128. Readers are encouraged to review the current investor presentation on-line to see both the well locations and seismic cross-sections. |
