Icon Updates on Shale Gas Exploration Program in ATP 855P, Australia

Icon Energy  provided an update on its unconventional shale gas exploration program in ATP 855P.

The vertical drilling exploration campaign continued in ATP 855 (Beach Energy Ltd (Beach) 46.9% and operator, Icon Energy Ltd 35.1%, Chevron Australia 18%) with the drilling of the Hervey – 1 and Keppel – 1 wells.

Hervey – 1 is drilling ahead in the Patchawarra Formation at a depth of 4,020 metres, with Keppel – 1 preparing to drill ahead after cutting the first core in the Daralingie Formation at 3,535 metres.

Results from drilling of both wells are encouraging with gas shows in the sections penetrated to date.

The Joint Venture plans to commence drilling the next well , Geoffrey – 1 in mid – July using the Ensign 61 5 rig once it has be en released from the Hervey – 1 well.

These wells are located to appraise the extent of the basin centred gas discovery to confirm the extent of the gas saturation in the Permian sedimentary section in ATP855.

The Nappamerri Trough is a potential world class gas asset and is the most advanced shale gas province in Australia to date.

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LNG World News Staff, July 5, 2013