Pem , through its holding in strike oil are looking good for the near future hopefully.
RGS are a good entry if the merger happens with a fully franked divvy?
STRIKE OIL - VIC/P44 - CASINO 1 PROGRESS REPORT
Strike Oil NL (Perilya 34.3%) advises that as at 06.00 hours EST on Tuesday the 3rd September 2002 the Ocean Bounty Semi-submersible drilling rig has drilled the Casino 1 well to a depth of 1792 metres. Gas indications have been encountered over the interval from 1743 - 1792 metres.
Current operation: Drilling ahead.
Forward plan: To drill ahead to total depth and then conduct a wireline evaluation programme to establish reservoir quality, reservoir pressures and recover gas samples.
Anticipated time to total depth: Approximately 2 days.
The significance of the gas shows cannot be assessed until this programme has been completed. The VIC/P44 Permit interests comprise a joint venture between Santos (operator) 50% and Strike Oil 50%.
T M Clifton MANAGING DIRECTOR
PEM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
