Icon Spuds Eolus 1 Well

Icon Energy Limited has spudded the Eolus 1 well in ATP 626P.

"Eolus 1 will be drilled over 14 days to a depth of 1,200 meters [3,937 feet]," said Icon Energy Managing Director Mr. Ray James.

The Eolus 1 and Windom 1 wells are being drilled in conjunction with Goondi Energy (a wholly owned subsidiary of Stanwell Corporation) as part of a farmin agreement and the Stage 2 work program for 2012 in which Goondi has earned an up-front 50 percent farmin interest in the wells.

"With the addition of the two wells in ATP626P this brings the total number of wells to be drilled over the next few months to five. This is the first time in our history that Icon Energy has been involved in such a concentrated exploration program across three tenements in two states, Queensland and Victoria," said Mr. James.