Ann: New Seaclem 1 - Spud - Progress Report , page-64

re: Ann: BUY: New Seaclem 1 - Spud - Progress... Great catch Bruce and fish look fine with Ocean Patriot in the background.



They are drilling down to 800 metres total stompa and Ya provided this summary on Dec 11th: "Quick Translation:
- Drill 36" hole to 169-213m
- Drill 26" hole to either 213-310m
- Drill 17.5" hole to either 310-350m (at this point they'll install the BOP & do the usual pressure testing b4 commencing drilling to TD)
- Drill 8.5" hole to TD of 826m"

and on the next day from Ya "Found this from their recent preso's: Multiple targets located at a reasonably shallow depth (390, 530 & 640m) targeting reservoirs sands in the Hawkesbury, Bulga & Scarborough SST's."

So up to step 3 and expect they should pass through the first area of interest fairly soon. Also like repeating this quote:

"RPS has reviewed each geological horizon in the seismic profile at the New Seaclem-1 proposed drilling site. It concludes that in sediments from 471 to 605 metres below sea level that gas is expected to be encountered, coincident with the Great White and Marlin prospects. The key conclusion is that geological horizons exist within these sediments that are 'highly likely' to contain gas due to the strength and variety of seismic attributes observed at those levels."