Drilling Commences at Niaoshan-1 Well in China's Heilongjiang Province

Triple Energy Ltd., an Australian oil and gas exploration company, provided Monday the following update on drilling activites at the Naioshan-1 well in the Bird Mountain area in China's Heilongjiang province.

The first of two wells (Niaoshan-1), was spud in the Bird Mountain area June 28. It is located around 1.2 miles (2 kilometers) fromn the previous Xian Xian-1 well drilled by the Joint Venture in 2013. The well is targeting several major coal seams for intersection which will be cored for desorption analysis and tested.

The well is currently drilling ahead having set surface casing and tested gas measuring equipment over the last week. As of 8 am July 6 the well has reached a depth of 220 feet (67 meters) measured depth.

The well is planned to be drilled to a depth of approximately 4,265 feet (1,300 meters), which is expected to take around six weeks, inclusive of coring and testing.

The second well of 2015 will follow with the same rig once operations at Niaoshan-1 are complete. Further updates will be made on a weekly basis and as material developments occur.


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