PO Valley Energy Limited (ASX:PVE) Drilling On Schedule At Sillaro#2 With Positive Log Results.
Rome, July 28, 2009 AEST (ABN Newswire) - PO Valley Energy Limited (ASX:PVE) announced today that the Sillaro#2 production well has been successfully drilled on schedule to a target depth of 2364m and log runs have been completed. Log analysis of Sillaro#2 confirmed the main pay zones in the Sillaro#1 production well across a gross interval of 140 metres from 2,180m to 2,320m. There is a very good match between the two wells which are laterally 500m apart at target depth. Po Valley's Chief Executive Officer, Mr Michael Masterman, said today "the well will be cased and downhole production equipment will be installed the next two weeks".
In addition to the Pliocene PL2A, -B, and -C zones successfully tested in Sillaro#1, log analysis suggests a number of additional pay zones which were not previously tested.
The C0 pay zone over a gross interval of 18 metres, which sits below C2/C1, appears to comprise a gas -bearing thin bedded sand sequence and will be completed for testing.
In addition, the logs highlight three possible attractive shallower targets at 1550m, 1850m and 2020m. The 2020m level covering a gross pay of approximately 15 metres from 2020m to 2035m is the most attractive and will be completed and tested for production. Sillaro-2 will be perforated on 3-4 production zones to complement existing production capacity in Sillaro-1, with short, confirmatory flow tests to be conducted early in August.
Note: All Depths are Measured Depths (MD)
Contact
Michael Masterman
Po Valley Energy
Tel: +61-417-851-303
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