Terra Nova Energy Ltd. (Terra Nova), the Operator of Petroleum Exploration License (PEL) 444 in South Australia's Cooper Basin, reported Monday that the Technical Contractor, Senex Energy Ltd. (Senex), has commenced the drill site preparations on PEL 444 on behalf of the Joint Venture.
Terra Nova also advises that operations are progressing well and that the targeted spud date of early December remains on track for the 6,700 feet (2,050 meters) Baikal #1 well which is designed to test a large prospective target on PEL 444 in the Mid-Birkhead channel sands.
About Terra Nova Energy Ltd.
Terra Nova Energy Ltd. is an oil and gas company with a 20.66 percent working interest in two onshore petroleum exploration licenses (PELs), PEL 112 and PEL 444, located on the western flank of the Cooper Eromanga Basin in the State of South Australia, Australia. Its common shares trade on the TSX Venture Exchange under the symbol "TGC" and its ordinary shares trade in the U.S. on the OTCQX marketplace under the symbol "TNVMF."
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