Following is from today's drilling announcement by SXY:
"Paning-2 unconventional gas exploration well flows from Toolachee Coal with contingent resource estimate pending"
"Exploration to date throughout the Patchawarra Trough indicates that the tight sands of the Epsilon and Patchawarra formations are likely to host structural oil and gas accumulations"
Paning-2 is in PEL 90, which sits right alongside PEL 514. Structural oil accumulations, now that's what we are after for quick cash flow & bonuses...
"Material Cooper Basin oil drilling program to resume following the return of Ensign Rig 48, commencing late June.
The review has identified more than 30 exploration, appraisal and development targets from existing seismic and technical data. Further exploration targets are now being generated from the interpretation of the reprocessed Mollichuta 3D seismic survey and the new Cordillo and Lignum 3D seismic surveys"
Cordillo was the 3D which covered a portion of PEL 514, which I assume is the 3D that first 2 holes to be drilled pre-Nov, will be sourced.
Not to long to wait....GLTA
Following is from today's drilling announcement by SXY:"Paning-2...
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