Bow Energy Limited (ASX:BOW) First Three Wells In Vermont CSG Prospect At Norwich Park Block Average Over 63 Metres Of Gassy Coals
Brisbane, June 9, 2010 AEST (ABN Newswire) - Bow Energy Limited (
ASX:BOW) (PINK:BOWYF) are pleased to provide a progress report on the drilling program currently underway in the Norwich Park block, ATP 1031, (Bow 100%) located approximately 300 km north-west of Gladstone, Queensland. Bow has identified three potentially high potential CSG prospects within this block, Vermont, Dysart and Norwich. Bow has completed the initial drilling program on the Vermont CSG Prospect.
VM-3, the third core hole well in the Vermont CSG Prospect of the Norwich Park block intersected over 62 metres of gassy coals to a depth of 825 metres including 24.3 metres of coal from the Fort Cooper coal measures and 37.7 metres of coal from the Moranbah coal measures. The three wells completed intersected an average of approximately 63 metres of gassy coals and confirm the prognosed coal depths and thicknesses across the Vermont CSG Field. Analysis of gas contents, composition and saturation is underway.
During the forthcoming quarter, Bow will commence an appraisal program on the Vermont CSG Prospect with the intention of accelerating reserves definition and certification programs.
A summary of three core wells drilled to date is set out below:
-----------------------------------------------------------Well Spud Date Total Gassy Coal Current Status Intersected-----------------------------------------------------------VM-1 20/12/09 52 metres Core drilling completed to total depth of 785 metres.-----------------------------------------------------------VM-2 17/4/10 77 metres Core drilling completed to total depth of 806 metres.-----------------------------------------------------------VM-3 21/5/10 62 metres Core drilling completed to total depth of 825metres.-----------------------------------------------------------
The drilling rig will complete casing on VM-3 before demobilising and commence drilling on the further four core holes scheduled in the Dysart and Norwich prospects. An additional coring rig is expected to commence next month to expedite the 2010 drilling program.
Bow is currently targeting 100 PJ 2P and 1,200 PJ 3P gas reserves by end calendar 2010 on the Norwich Park block of which these three prospects form part.
For the complete Bow Energy announcement including figures and tables, please view the following link:
http://www.abnnewswire.net/media/en/docs/63040-ASX-BOW-221276.pdf
Contact
John De Stefani
CEO - Commercial
Bow Energy Limited
Tel: +61-7-3238-6300
www.bowenergy.com.au
Vic Palanyk
COO - Chief Operations Officer
Bow Energy Limited
Tel: +61-7-3238-6300
www.bowenergy.com.au
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