SYDNEY: Orion Petroleum Limited (ASX:OIP) today said that Nyngynderry-1 was drilling ahead at 770 mKB towards the first of multiple reservoir objectives. Drilling of the Nyngynderry-1 well commenced at 6 pm on 3 September. The well then drilled to 505 mKB, where 9 5/8” surface casing was set prior to the resumption of drilling on 9 September in 8 1/2” hole. Nyngynderry-1, located in PEL 8, will be drilled to a total depth of about 2,500 metres by Ensign Australia using Rig 30. The Nyngynderry prospect is a high relief anticline and the well has been located to intersect all reservoir targets near the apex of the structure.
OIP Price at posting:
9.4¢ Sentiment: Buy Disclosure: Held