Spudding of Govt Kaehne 9-29 well
Spudding of Govt Kaehne 9-29 well
Perth, Nov 20, 2019 AEST (ABN Newswire) - Eon NRG Limited (ASX:E2E) is pleased to announce that drilling operations have commenced with the spudding of the first well on its recent acquired 15,000 acres in the Powder River Basin.

Highlights:

- Govt Kaehne #9-29 well has commenced drilling

- First well to be drilled on Eon's 15,000-acre leasehold position in the Powder River Basin

- Drilling operations are expected to take approximately 12 days to reach total depth

The Govt Kaehne #9-29 well spudded at 8:30 hours US MST on Tuesday November 19. The #9-29 is being drilled as a directional well to a planned total depth ("TD") of approximately 6,400 feet (1,950 meters).

The well is being drilled using the CapStar #311 drill rig which mobilized to site on Monday. Current operations are drilling ahead to 2,060' prior to running 8.625" surface casing and cementing. Drilling operations are expected to take approximately 12 days to reach TD where it will intersect the primary target in the Dakota Formation (Sandstone, Lower Cretaceous Age). The well bore will also pass through a potential secondary pay formation (Muddy) at around 6,000'. Once the well is drilled to TD a series of drill stem testing and suite of geological logging will be performed to determine the deliverability of hydrocarbons.

The #9-29 well is located in the North Donkey Creek Field approximately 22 miles east of Gillette, Wyoming (a major service centre for the oil and gas industry in the Powder River Basin). Eon is the operator of the well and has a 61% working interest (WI) and a 53.4% net revenue interest (NRI). Progress reports will be provided on the drilling progress as material events occur. "The spudding of the #9-29 is a significant milestone as we begin drilling the prospective exploration wells within the Company's leasehold acreage," said John Whisler, Managing Director. "We are currently prioritizing the development of the 15,000-acre leasehold and look forward to this transformational opportunity."

Background to development of the Govt Kaehne #9-29 well:

- The Company acquired 15,000 acres of leasehold in the Powder River Basin in October 2018

- The first drilling prospect that was identified in this acreage is located in an existing oil field, Donkey Creek North

- Environmental and archeological surveys were carried out on and around the well location in the spring of 2019

- Applications to drill the new well were granted in July 2019

- The well pad and access road for the new well were built in August and completed in September

- JV funding was finalized in November 2019

- Drilling of the Govt Kaehne #9-29 commenced in November 2019

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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.

   


Contact

Australia -
Simon Adams
CFO/Company Secretary
Email: sadams@i-og.net
Phone: +61-8-6144-0590

USA -
John Whisler
Managing Director
Email: jwhisler@i-og.net
Phone: +1-720-763-3183

Website: www.eonnrg.com
Twitter: @EonNRG



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