Approval was given to the earthmoving contractor to commence work immediately and ground was broken for the building of the well pad and road yesterday, July 24, 2019.
The breaking of ground on the Govt Kaehne 9-29 well site marks the commencement of a crucial stage in the Company's development program.
The Govt Kaehne 9-29 well is expected to be drilled to a depth of ~6,300 feet and it should take approximately 12 days to reach total depth (TD). Upon reaching TD, drill stem testing (DST) and open hole logging will be performed to evaluate the reservoir deliverability. Assuming well success, completion of the well for production is estimated at a further 45-60 days, with oil production and sales to follow soon thereafter.
"This is a significant milestone for the Company," said John Whisler, Managing Director. "We are very excited to have reached this stage which marks the beginning of our organic growth strategy with value being created through the drill-bit."
About EON NRG Ltd
EON NRG Ltd (ASX:E2E) is an USA onshore focused energy exploration and production company. The Company's growth path is through drilling of high impact oil exploration wells, supported by its 100% owned and operated long life oil and gas production assets and associated cashflow. The company also has a battery minerals division with prospective leases in Nevada which are at the early stages of low-cost exploration.