(BLANK) is the major shareholder of Key Petroleum Limited which drilled the Cyrene-1 well in the Canning Basin, Western Australia in January/February, 2013 with DCA Rig 7. Good oil shows in the Goldwyer Formation are being evaluated by the Operator, Key Petroleum and major equity participant Buru Energy Limited for the unconventional potential.
DCA Rig 7 is planned to be mobilised after rig modification and repair to follow with the drilling of Waugh-1 in (BLANK)’s EP 437 Permit. (BLANK)’s 25 man drilling camp is planned to be mobilised from the Cyrene-1 location to the Waugh-1 well location.
KEY Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held