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- At 6:00 am this morning, Metgasco’s (MEL) Vali-ST1 gas exploration well was drilled at a measured depth of almost 2700 metres
- The well was plugged back and side-tracked to correct excessive deviation and maintain the target tolerance
- High gas shows were observed throughout both thick and thin intervals
- Metgasco’s share price is steady with shares currently trading for 4.4 cents apiece
At 6:00 am (AEDT) this morning Metgasco’s (MEL) Vali-ST1 gas exploration well was drilled through the Rosneath Formation at a measured depth of 2657 metres.
Vali-1 was plugged back and side-tracked within the Murta Member to correct excessive wellbore deviation and maintain target tolerances.
High gas shows were observed over substantial thickness in a number of intervals in the Nappamerri Group, and two thinner intervals at Toolachee sands.
Additionally, oil shows were again observed in the shallower Westbourne and Birkhead formations.
A survey tool was run in Vali-1 after a depth of 2106 metres was reached within the Nappamerri Group.
This was to check the wellbore position and showed that the subsurface geology had caused the well to drift 24 degrees from its vertical position.
To correct the well path and maintain an angle toward the target reservoirs, it was necessary to plug back with cement and side-track the well.
Vali-ST1 side-track begun at a depth of 1644 metres in the Murta Member and the well is now drilling ahead to control any tendency to build angle caused by the geology.
The well is expected to reach the planned targets and total depth by the end of the week.
The Vali-ST1 primary target is in sandstones of the Patchawarra Formation, with the Toolachee Formation being a secondary objective.
These reservoirs are proven as producing reservoirs on the southern flank of the Nappamerri trough, with over 600 billion cubic feet of gas produced from fields within a 15 to 40-kilometre radius of Vali-1.
Metgasco will issue progress reports on the Vali-ST1 well as material developments occur.
Metgasco’s share price is steady today with shares currently trading for 4.4 cents apiece at 1:44 pm AEDT.
