Molopo Spuds First Well At Gloucester Basin
Molopo Australia Limited
|Wednesday, February 25, 2004
Molopo Australia Limited has spudded the first of two production wells (LMG03) at its Gloucester Basin permit in New South Wales, Australia.
The permit is located approximately 100km north of Newcastle and covers an area of 1,308 square kilometers and has over 200 square kilometers of prospective coal measures.
The initial focus of the two joint venture partners, AJ Lucas Coal Technologies Pty. Ltd and Molopo Australia Limited, is on a 5 square kilometer area referred to as the Stratford Prospect which has an estimated 90 petajoules of gas in-place. Early work by previous operators involved the drilling on 9 coreholes which confirmed the existence of a number of thick gassy coals seams in the area.
Two different stimulation and completion techniques are being tried, one being an SIS or horizontal completion well, and the other a more conventional water frac production well. Both will be placed on production test to assess their gas production potential, and the relative success of the two techniques. Testing is envisaged to continue for between 6 and 12 months.
Interest holders in the Gloucester Basin project are, AJ Lucas Coal Technologies Pty. Ltd, (75%and Operator) and Molopo Australia Limited (25% & Project Manager).