PPP 0.00% 3.7¢ pan pacific petroleum nl

oil and gas shows

  1. 1,747 Posts.
    Some positive news but the market not responding yet today.

    Interesting price jump two days back but not followed through.

    Regards M.

    PAN PACIFIC PETROLEUM NL 2003-04-16 ASX-SIGNAL-G

    HOMEX - Sydney

    +++++++++++++++++++++++++
    MONTGOMERY-1 DRILLING UPDATE

    Pan Pacific Petroleum announces that the exploration well,
    Montgomery-1, in WA-149P, offshore Carnarvon Basin, Western Australia
    was drilling ahead at 2811m at 6.00 am (WST) on Wednesday 16th April.

    The Montgomery well targets multiple reservoir seal pairs within the
    Cretaceousand Jurassic sequence.

    Reservoirs within the Upper Barrow, a secondary target, have been
    intersected, and are associated with elevated gas readings and minor
    oil shows. The potential of these zones will be further evaluated,
    once the well has reached a total depth of around 3680m.

    The primary targets of the well, within the Dupuy Formation, are
    expected to be intersected within the next week.

    Pan Pacific Petroleum holds a 10% interest in the Montgomery-1 well.

    For further information :

    Kym Mills (SENIOR EXPLORATIONIST)
    Telephone: (02) 9957-2177

    Website: www.panpacpetroleum.com.au
 
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