Otis Energy announce Sombrero project drilling update

Wednesday, March 14, 2012
  • Mudlogging operations began at 3,500 feet (1,066 metres) and will continue to target depth of 11,600 feet.

Otis Energy Limited (ASX: OTE) provide the following update on progress at its Sombrero project (Otis Energy 5% WI, 3.75% NRI).

The WC 35 State # 1 is currently at a depth of 4,397 feet (1,340 metres) after 14 days of drilling.

Mudlogging operations began at 3,500 feet (1,066 metres) and will continue to target depth of 11,600 feet.

This WC 35 State # 1 Well will test the Wolfcamp/Cisco formations at a total depth of approximately 11,600 feet (3,540 metres). This well is expected to take between 35 to 40 days from spud to reach target depth.

Updates will be provided to the market on a weekly basis until target depth is reached or as and when material information on drilling should be released to the market.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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