PEM 0.00% 35.0¢ perilya limited

PEM/RGS

  1. 4,746 Posts.
    lightbulb Created with Sketch. 22
    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
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.