12 September 2011
The Company Announcements Office
ASX Limited
Drilling Report
Siphon-1 Exploration Well, PPL 269, PNG
New Guinea Energy Limited reports that at 0600 PNG time, Monday 12 September, the well was at 3,794m MD in the upper Alene Member of the Ieru Formation. A 7' liner has been successfully run to depth, cemented and checked for pressure integrity.
Planned operations are to test the BOP (blowout preventer), pickup the 6' assembly and run in hole prior to drilling ahead through reservoir during the next 2-3 days.
The main reservoir target is the Toro Sandstone predicted at approximately 3,870m MD.
Prognosed total depth of the well is 3,975m MD in basement.
The Siphon - 1 prospect is a wet gas prospect located in PPL 269 in Papua New Guinea. It is a fault-bounded, north-south elongated basement drape structure, adjacent to and at approximately the same subsurface depth as the Stanley - 1 discovery in PRL 4.
NGE announced some huge pressure issues and a lot of condensate class of gas
its been up to 13 pounds of mud weight before they could not keep the well controlled enough and were forced to put in a 7' liner before drilling ahead into the primary zone
very encouraging reports, and imho a discovery is highly probable from this point
good luck to all holders