Unconventional gas exploration Pre-drill operations will commence on the Silver Star-1 gas exploration well (PEL 638: Senex 53.75% and operator, Origin Energy 33.75% and Planet Gas 12.5%) in January 2017, with the well to be spudded in February. The original drilling schedule was delayed due to rig availability, with Easternwell 106 specifically chosen to accommodate the technical specifications of the well. Silver Star-1 is a high impact gas exploration well targeting basin centred gas in the Permian sandstones of the Patchawarra Trough. The well is expected to be drilled to a depth of around 3,600 metres, with a potential lateral section of up to 1,500 metres. Overall, the total cost of the well is estimated at approximately $15 million with Senex free carried by its joint venture party Origin for its share of expenditure under the farm-in arrangement
Least something to look forward to.
GLTH
PGS Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held