7 Mar 2006drilling progress report▲ Good
Wireline logs at Longlea #1 show eight coal seams, over 38m in total. Three seams (over 13m combined) were chosen for gas testing, which is deferred until Georges Island #2 and #3 are drilled.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Mar 2006drilling result▲ Good
Longlea #1 reached total depth of 560m. The Hoskissons Seam was hit at about 488-496m, roughly 100m deeper than expected but thicker (about 8m), with sporadic flammable gas recorded while drilling.
2 Mar 2006drilling progress report● Neutral
Longlea #1 was at 360m, with target seams expected about 60m deeper than predicted. The company says this does not affect prospectivity.
27 Feb 2006drilling spud▲ GoodMajor
Drilling began on Longlea #1 in PEL 12 (spudded 24 February) after a wait of more than six months for a rig. Target is the Hoskissons Seam at about 450m; the rig then moves to follow up the Georges Island #1 discovery.