Gas2Grid's Exploration Well Fails to Find Hydrocarbons in Cebu Limestone

Australia's Gas2Grid disclosed in a statement Wednesday its Gumamela-1 exploration well in its wholly-owned Service Contract 44, onshore Cebu, in the Philippines has failed to locate any hydrocarbons in the Cebu Limestone.

The company said that Gumamela-1 has been drilled to a depth of 2,887 feet (880 meters) "without any hydrocarbon shows." Gas2Grid is at present drilling the well – which targets up to 15 million barrels of recoverable oil – ahead to fully evaluate the Cebu Limestone Formation.

Gumamela-1 is the second well being drilled in Gas2Grid’s current three-well exploration program. It will test a Miocene age Cebu limestone pinnacle reef, along with secondary targets in the overlying draped sandstone reservoirs of the Malubog and Toledo formations.

Gumamela-1 is sited 3 kilometers (2 miles) of the recently drilled Jacob-1 well, which failed to encounter any hydrocarbon shows. Jacob-1 is the first exploration which Gas2Grid drilled.


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