L&M Energy is wishes to provide the following update regarding its Kaitangata CSG appraisal programme within PEP 38219, located 60km south of Dunedin.
The Taratu-1 well is at a current depth of 323m and is drilling towards an expected total depth of approximately 350m. To date the well has intersected approximately 23m of the Kai Main coal seam and 12m of the Carson seam between 309m and the current depth. So far a total of 41 canisters of coal have been gathered for further analysis, including measurement of gas content and saturation levels.
During the week, the Washpool-1 well reached a depth of 219m before being suspended. The smaller rig being utilised for the upper portion of the well has been demobilised with the larger rig mobilising to deepen the well upon completion of Taratu-1. To date 7.5m of Barclay coal has been intersected within the Washpool-1 well.
Taratu-1 and Washpool-1 are the second and third wells respectively of a five well programme. The wells are set to test the coal seam gas potential from five sub-bituminous coal horizons (Capstick, Jordan, Kai Main, Carson and Shore) within the coalfield.
About L&M Energy Limited
L&M Energy Limited is a New Zealand based company dual listed on the ASX and NZX stock exchanges. The Company is focused on the discovery and development conventional and unconventional oil and gas resources. The Company holds equity interests in over 8,200 km2 of exploration acreage contained within eight New Zealand exploration permits.
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