VANESSA-1: PEL-182 COOPER BASIN S.A. Eagle Bay Resources advises that three drill stem tests have been run across the Epsilon and Toolachee Formations with the following results:
DST #1A Epsilon Fm 29-7 Sand Test Interval 2977.1m 2980m: Flowing Pressure 800 PSI on ½" Choke. Estimated Final Rate - Gas at 4.4 MMscfd Gas Composition: C1/C2/C3/C4/C5 86/11/2/1/tr Some CO2
DST #1B Epsilon Fm 29-6 Sand Test Interval 2960.2m 2693m: No flow after 15 min. Suspected tool malfunction.
DST #1C Toolachee Fm 29-25 Sand Test Interval 2929.0m 2931.8m: Flowing Pressure 525 PSI on ½" choke Estimated Final Rate - Gas at 2.8 MMscfd Gas Composition: C1/C2/C3/C4/C5 77/16/5/2/tr Some CO2. Logged sand thickness + 10 meters.
Based on these results, production casing will be run and the well suspended pending completion as a possible gas producer at a later date. Current operations are attempting to pull out of the hole with the test tools.
EBR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
