Kenai Loop Drilling Permits
Sydney, June 24, 2013 AEST (ABN Newswire) - Buccaneer Energy Limited (
ASX:BCC) is pleased to advise that a drilling permit for the next well in the Kenai Loop Project development has been lodged with the Alaskan Oil and Gas Conservation Commission ("AOGCC").
The permit process typically takes approximately 30 days to complete, and the well is expected to spud soon after receipt of the permit.
In order to provide clarity in our reports and releases, we have filed with AOGCC to rename our wells to reflect their pad number and the order in which they were drilled.
- Kenai Loop # 1 (in production) well is renamed Kenai Loop # 1-1. Reflecting it is on Drilling Pad # 1 and the first well drilled
- Kenai Loop # 3 (permitted disposal well) well is renamed Kenai Loop # 1-2;
- Kenai Loop # 4 (in production) well is renamed Kenai Loop # 1-3.
The next well will be Kenai Loop #1-4 and will be drilled from Drilling Pad #1, where the existing production wells are located, the Glacier rig is currently on site. It will be directionally drilled to a bottom hole location 1,368' to the south-east, and is anticipated to have a Total Depth of approximately 10,900'.
Additionally the Company is currently preparing drilling permits for two additional Kenai Loop wells.
The Kenai Loop #1-4 well, and the two subsequent wells, are designed to test targets identified through the substantial amount of sub-surface work completed since the successful Kenai Loop #1-3 (formerly Kenai Loop # 4) well, which was placed onto production in February 2013.
Contact
Buccaneer Energy Limited
T: +61-2-9233-2520
F: +61-2-9233-2530
WWW: www.buccenergy.com
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