KENAI LOOP # 4 WELL Drilling Report
Sydney, Sep 19, 2012 AEST (ABN Newswire) - Buccaneer Energy Limited (
ASX:BCC) is pleased to provide the following update on the progress of the Kenai Loop #4 ("KL #4") well:
Time: 11.00am (Sydney) 19 September / 5.00pm (Anchorage) 18 September 2011.
Depth: 3,050 feet Total Vertical Depth ("TVD").
Activity: Surface casing run and cemented. Installed 10,000psi blow-out protector ("BOP"). Preparing to drill ahead.
Comment: The primary target in the KL #4 well are 7 stacked potential pay sands in the Tyonek formation, the well will have a bottom-hole location approximately 2,000' north-west of the successful Kenai Loop #1. All of the 7 stacked potential pay sands have been identified and mapped using data from the recent 3D seismic interpretation and all have hydrocarbon indicators.
The targeted pay sands within the Tyonek include the 9700' and 10000' sands that are currently being produced in Kenai Loop #1 well.
The Kenai Loop #4 well is planned to drill deeper than the Kenai Loop #1 (10,660'), and is anticipated to take 35-40 days to drill with an additional 10 days for testing.
Contact
Buccaneer Energy Limited
T: +61-2-9233-2520
F: +61-2-9233-2530
WWW: www.buccenergy.com
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