Icon Energy Reports Progress on Redland-1 Well

Icon Energy announced that the Redland-1 vertical well in ATP 855 is drilling ahead at a depth of 3,700 metres in the Toolachee Formation at an average rate of 4.5 metres/hour.

Redland-1 is located in a similar structural position to Keppel-1, which is 18 kilometres to the south west, and is designed to specifically test the Toolachee and Daralingie Formations.

The well is expected to reach a total depth of approximately 3,800 metres in the top of the Roseneath Shale.

Following the drilling of Redland-1, the Ensign 965 rig will move to the last well in the current drilling campaign, Etty-1, which is located approximately 9 kilometres to the east of Halifax-1.

A four well hydraulic stimulation campaign will commence in Q2 2014 and include Geoffrey- 1, Redland-1, Etty-1 and Hervey-1. Key target reservoirs have been identified in each well drilled that will be the focus of the stimulation and flow test activity. These tests are designed to understand the contribution from each reservoir interval, which represent only part of the overall capacity of each well.

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