Burleson Energy Limited (ASX:BUR) Heintschel Field Development Drilling Update

Burleson Energy Limited (ASX:BUR) (PINK:BENGF) advises that all four of its producing wells are back on line following disruptions to Heintschel #1 and Joann #1, which extended into January 2012.

The three wells on the Heintschel field (H#1, H#2 and D Truchard #1) are currently flowing at a combined rate of ~ 0.9 million cubic feet of "wet" gas per day (mmcfd) and ~26 barrels of condensate per day.

Wet gas contains natural gas liquids (NGL) which effectively add ~ US$2.50 per thousand cubic feet (mcf) to the received gas price (currently ~US$2.30/mcf). Condensate sells for the same price as crude oil (current US price is ~US$105 per barrel).

Click here to view the full announcement at,
http://www.burlesonenergyltd.com.au

About Burley Minerals Ltd

Burley Minerals Ltd (ASX:BUR) is a well-funded ASX-listed minerals explorer with a 70% interest in the Yerecoin Project is located approximately 120km to the northeast of Perth, Western Australian that has a JORC 2012 compliant Mineral Resource of 246.7Mt capability of producing a concentrate at >68% Fe. Various studies completed by previous operators, included various production scenarios as well as evaluation of infrastructure solutions. Burley is preparing to commence its maiden drilling campaign with the aim of up grading the confidence in the magnetite minerals resource.

 

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