BUY 0.00% 0.5¢ bounty oil & gas nl

Bounty Early gas shows

  1. 1,747 Posts.
    Bounty is now drilling ahead and has background gas shows. Early next week should be interesting.

    Regards M.

    BOUNTY OIL & GAS NL 2002-04-26 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Bounty Oil & Gas NL provides the following progress report on the
    drilling of the Woodada #19 gas well.

    PERIOD: 48 hours to 6am on 26/4/02.

    CURRENT DEPTH: 1513 mKB (depths are in metres below the Kelly Bushing
    on the rig floor).

    PROGRESS: Replace choke manifold. Drill out casing cement. Presently
    runningin hole with new 8(1/2) inch (216 mm) bit. Preparing to drill
    ahead.

    HYDROCARBON INDICATIONS: Background gas shows in Kockatea Formation.

    WELL LOCATION: The well is sited approximately 700 m west of the
    Woodada #8 gas production well within the Woodada Production Licence
    (PL 5), located approximately 260 km north of Perth, Western
    Australia.

    PRIMARY TARGET: Gas producing zones within the Carynginia Limestone
    at approximately 2,200 m depth.

    SECONDARY TARGETS:
    * Sandstones within the basal Carynginia Formation (between 2,400 m
    and 2,500 m depth);

    * Sandstones within the Irwin River Goal Measures (between 2,530 m
    and 2,800 m depth);

    * High Cliff Sandstone (if present) at about 2,820 m depth.

    Note: The secondary objectives are below the producing gas reservoir
    in the Woodada Gas Field and have not previously been tested.

    PARTICIPANTS: Hardman Resources Ltd 75%
    Bounty Oil & Gas NL 25%

    Drilling of Woodada #19 commenced on 11 April 2002. A period of 25
    days has been estimated for the completion of drilling and testing
    operations to an approximate total depth of 2,900 metres.

    L Roe
    EXPLORATION MANAGER

    NOTE: In accordance with ASX listing requirements, the geological
    information supplied in this report has been based on information
    provided by geologists who have had in excess of five years
    experience in their field of activity.


 
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