The POE-1 well will intersect a bright seismic amplitude event on the reprocessed 3D seismic which is interpreted to indicate an improvement in the sandstone reservoir at this location. The well will be deepened to penetrate both the currently producing "F" sandstone and the underlying "G" sandstone which may have additional potential for economic oil reserves.
As with POE-2, the POE-1 well will be logged and cased ready for production testing upon completion of drilling. A smaller and more cost effective service rig is being contracted to complete all 6 wells for long term production testing commencing in early September.
It is anticipated that the POE-1 well will take 12 days to reach the planned total depth of 1,251 meters.
Drilling pads are being prepared for a further four wells in this Phase 1 drilling program. It should be noted that wells are drilled in the order that the drilling pads are completed and not necessarily in the sequential order of the well numbering from POE-1 to POE-6 assigned by the operator.
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