drilling update from emr

on a bleak day like today, at least this is not negative!

EP 104/R1 STOKES BAY 1 WELL
CANNING BASIN, WESTERN AUSTRALIA
(Emerald 12.75% Working interest, Operator: ARC Energy.)
Current Activity: As previously announced the operator has
suspended swabbing operations until the end of the
wet season, anticipated to be April 2008 at the
earliest.
Future Plans: A recent JV meeting discussed the areal extent of
the structure intersected by the Stokes Bay 1 well
which could still have significant gas and condensate
resources. Pressure gradient studies indicate that
the Nullara reefal carbonates could be hydrocarbonbearing.
So far no actual indigenous formations fluid
has been recovered, only drilling fluids which
invaded the formation while drilling.