"The well successfully encountered gas in the target Alene reservoir. The provisional interpretation of the Alene Sandstone at this location is that it has similar reservoir properties to Kimu 1 and a slightly greater reservoir thickness. In addition, the reservoir appears to be in pressure communication with Kimu 1.
Cores and logs were acquired and a Drill Stem Test undertaken over the Alene Sandstone interval, which flowed at a continuous rate of 34.5 mmscf/day over a 72-hour period through a 1” choke."
OSH Price at posting:
$8.32 Sentiment: Buy Disclosure: Held
