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Good pick-up rasberry .... Im still a tad sceptical about 7th...

  1. 7,611 Posts.
    Good pick-up rasberry .... Im still a tad sceptical about 7th being the 'spud' date ... more likely mid-May ...imo.

    Heres the WEN.NZX annnouncement ..

    27 April 2008

    Dear Sir,

    Widespread Energy advises expected early May spud-in of Kate 1 well

    Widespread Energy holds 11.7% of Nelson based oil and gas exploration company
    Green Gate Limited. Green Gate is proposing to drill an exploration well
    (Kate 1) on the onshore Kate Anticline oil prospect near Amberley in PEP
    38260.

    ASX listed company Gas2grid (ASX:GGX) will be funding the well and in doing
    so will earn a 55% participating interest in the onshore portion of PEP
    38260.

    Widespread Energy therefore has an effective interest of 5.27% in the onshore
    portion of PEP 38260 (being 11.7% of 45%) and 11.7% in the offshore portion
    of PEP 38260.

    The drill rig is expected to arrive on site on or about May 7, 2008. This rig
    has recently been designed and built by New Zealand based NRG drilling and is
    presently completing a well in the North Island.

    For and on behalf of the Board,

    Chris D Castle

 
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