L&M Energy (ASX: LME) is continuing with its efforts to unlock New Zealand’s coal seam gas (CSG) potential with plans to drill the fifth well in the Kaitangata (PEP 38219) permit located 60 kilometres south of Dunedin.
Wangaloa-2 will be drilled to a total depth of about 350 metres to test the CSG potential of five subbituminous coal horizons - Capstick, Jordan, Kai Main, Carson and Shore – within the coalfield.
The well will also be the first of five that L&M is drilling in the first half of 2012 on the northern and potentially deeper portion of PEP 38219.
This program is aimed at giving sufficient data to determine the CSG potential of the Kaitangata area.
Of the four earlier wells, two were stratigraphic wells aimed at determined coal depth and thickness while the next two were core wells.
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