Here you go EWD NewsEAGLEWOOD ENERGY PROVIDES OPERATIONAL UPDATE ON UBUNTU-1 WELL
At 9 a.m. (GMT plus 10 hours) today, the Ubuntu-1 well was drilling ahead in a six-inch hole at 3,453 metres, after Eaglewood Energy Inc., as operator of the Ubuntu area, having successfully drilled and cased the 8-1/2-inch hole to 3,235 metres.
Data acquisition during drilling is limited to LWD gamma ray log data and mud logging data.
Preliminary evaluation of the LWD gamma ray data indicates that the first two of the three primary targets, namely the Elevala sandstone and the Toro sandstone, are present in the Ubuntu-1 well as per prognosis. Gas shows have been observed, however, a quantitative assessment can only be made after wireline logging, pressure measurement and sampling programs have been completed and the data interpreted.
Over the course of the next few days, the anticipated operations will be to drill the six-inch hole through the remaining undrilled primary and secondary reservoir targets to the top of the basement at the well's total depth of approximately 3,600 metres. Wireline logs, pressure measurements and downhole samples will be acquired once total depth has been reached. Once the appropriate data have been acquired and analyzed, the results are expected to be announced on Monday prior to the market open.
The Ubuntu-1 well is located on petroleum prospecting licence 259, approximately 17 kilometres east of the Ketu and Elevala gas condensate discoveries in Papua New Guinea. Eaglewood is the operator of the 259 licence, holding a 40-per-cent participating interest in the Ubuntu area and a 90-per-cent interest in the rest of the 259 licence.
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