Adelaide Energy Limited (ASX:ADE) Patrick-1 Reaches Total Depth
Adelaide, May 10, 2010 AEST (ABN Newswire) - Adelaide Energy Limited (
ASX:ADE) is pleased to announce that its 100% owned Patrick-1 well reached its Total Depth (TD) of 2,998 metres over the weekend.
The Jacaranda Ridge Sandstone which was the primary objective of the well was intersected at 2675 mMD (metres Measured Depth). A total of 32 metres of core was cut from 2685 to 2717 m and successfully retrieved. Initial indications are of a continuous gas column of 37 metres with the best reservoir quality around 8 - 13 metres thick.
The well has also encountered significant gas shows and fluorescence in the secondary objective, the Sawpit Sandstone intersected at 2765 metres.
Electric logging of the well has commenced and is expected to be completed over the next few days. The logs together with the core will allow further evaluation of both targets.
The rig will move off Patrick-1 in the next few days. The well will then be tested later this month (along with the neighbouring recently drilled Hollick-1 well which also encountered significant gas shows).
Patrick-1 and Hollick-1 are located in PEL 255 of the onshore Otway Basin, South Australia.
Contact
Carl Dorsch
Managing Director
Adelaide Energy Limited
Mob:+61-0400-508-088
Email: c.dorsch@adelaideenergy.com.au
Neil Young
Chief Commercial Officer
Adelaide Energy Limited
Mob: +61-0417-850-245
Email: neil.young@adelaideenergy.com.au
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