Asian Activities Report for October 6, 2011: Otis Energy Limited (ASX:OTE) Ready to Drill Avalanche Oil and Gas Project in US
Sydney, Oct 6, 2011 AEST (ABN Newswire) - Otis Energy Limited (ASX:OTE) says that drilling preparations are now almost complete at its Avalanche project in Louisiana, USA. A Rig will be mobilised to site on October 10th and drilling is expected to take 50-60 days to reach the target depth after spudding. The Avalanche project has a reserve potential of 126 million barrels of oil and 379 billion cubic feet of gas.
Mako Energy Limited (ASX:MKE) advises that the well MKE 102 HZ Provost 14-2-40-4 successfully reached its targeted total depth on 27 September 2011, and is currently undergoing reservoir evaluation. Oil production is anticipated within 10 days.
Aura Energy Limited (ASX:AEE) has commenced drilling at its 100%-owned Motala shale gas project in south-central Sweden. Aura remains strategically focused on it two key uranium projects, Häggån in Sweden and Reguibat in Mauritania. However increased interest in Europe in shale gas sources has led the Company to review the shale gas potential on its project.
Potash West NL (ASX:PWN) has commenced an extensive potassium extraction programme to test samples taken from its world class glauconite deposits in the Dandaragan Trough, Western Australia. Potassium extraction of over 95% has been achieved by leaching of glauconite concentrate, and almost all of the potassium can be extracted rapidly. The Company's extensive glauconite deposits have potential to develop a new industry that would reduce Australia's reliance on potash imports.