Upper Jurassic Drilling. Upper Jurassic Drilling.
Currently underway. They are still drilling down. It is a slow process as they are obtaining core samples as they go down. For those of you who are not familiar with the process, every time the rig does a core sample, they have to pull the sample up the well which means they have to pull all of the drill pipe up the well and out and disconnect and rack it just like they would do when changing a bit. They then retrieve the core sample and then run the pipe down the well again and start drilling again. Each trip like this is a slow process.
This is a proof of concept well or a testing and learning well as much as it will be a production well when completed.
Nick Steinsberger,and the team are as excited as ever. Nick has drilled pretty well every shale formation there is and says if you are to rate the Amititlan shale, on a scale of one to ten, he would rate this play as a nine as there really is no ten. He says this is a phenomenal opportunity.
ROE expects the drilling of the test well will take to the end of September or through the first week of October. They will then be dong the fracking, and work to bring it into production.
They did not give any anticipated results. They did say that once this well is complete and they have the results and can prove up the potential of this resource it will be an eye opener for a lot of the Industry, Pemex, the Government and President AMLO.