Burleson Energy Limited (ASX:BUR) is pleased to advise that the Heintschel # 2 well commenced drilling over the Christmas period and as at 6am Texas time was drilling ahead at a depth of 3,300 feet (1,006 metres).
The well is located some 1,200 feet (366 metres) southwest of the Heintschel #1 discovery well and is expected to be drilled to a depth of 11,800 feet (3,600 metres) and take approximately 28 days to drill and complete. Heintschel #2 is the third well to be drilled on the broader Heintschel structure and follows the recently drilled D.Truchard #1 well currently being completed for production with fraccing and flow testing scheduled for early in 2011.
The Heintschel #2 well is predominantly an appraisal well targeting the main gas condensate sands encountered in the Heintschel #1 discovery well but in a structurally higher (updip) location. Being a close offset to the initial discovery well also provides a development component aimed at securing valuable additional production and cash flow along with progressing potential resource and reserve assessment within the field.
Further drilling updates will be provided on a weekly basis or more regularly in the event that material information arises that requires disclosure.
Heintschel Field Interests:
- Burleson Energy: 38.0%
- New Standard Energy (ASX:NSE): 32.5%
- AKG and Associates (AKG): 29.5%