Wet Weather Delays Drilling of Rosella E01 Well in New South Wales

Metgasco Limited, an Australian oil and gas exploration firm, reported Tuesday that the drilling of the Rosella E01 well in New South Wales, Australia has been delayed due to wet weather impacting the availability of Atlas Rig 3. Subject to confirmation of rig availability, drilling activity is expected to commence within the next 4 weeks.

All approvals required for drilling are in place as is the landholder access agreement.

The Rosella E01 well will test the commercially high risk conventional and tight gas potential of the larger Greater Mackellar structure and follows the discovery of gas in sands in the Kingfisher E01 well in 2009. Rosella E01 is not a coal seam gas well.

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