Can anybody interpret this release for me? I have no idea what a wiper trip is, or what level of gas they are talking about when they say 300-400 units. Madura is very prospective for gas wells, and has a few producing oil wells, but the oil is the thing that is important here. Anything in this release to indicate oil?
+++++++++++++++++++++++++ CityView Corporation Limited ("CityView") (ASX:CVI) has received the following information from its Joint Venture partner and Operating Shareholder, Pt Medco Energi Internasional TBK ("Medco"):
* The wellhas been drilled to 6,890 feet, * Background gas ranges from 300 to 400 units. * Cuttings indicate shale, limestone and sandstone. * A wiper trip has been run and the Operator has decided to run logs in order to determine the formation being drilled in comparison with the seismic date.
CVI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held