(MENAFN- ProactiveInvestors - Australia) Metgasco (ASX: MEL) has successfully drilled its Bowerbird E04 exploration core hole in the Clarence-Moreton Basin, New South Wales.
The well was drilled to further investigate the characteristics of coal seams within the Walloon Coal Measures in PEL 13 some 4 kilometres north of the Bowerbird E02 well on the Eden Creek Trend.
Wireline logs have been acquired and a total of 34 coal samples were collected for analysis of gas desorption, adsorption potential, gas saturation and compositional analysis, as well as for the lithological properties of the coal seams.
Following the completion of this well Metgasco will prepare to drill three lateral wells in PEL 16 to demonstrate the productivity of the coal seams and a conventional well to test the Greater Mackellar structure.
Metgasco has a 100% interest in PEL13 and the adjacent PEL 16, which have proved and probable reserves of 31 petajoules and 397 petajoules respectively.
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