from low 7's to 9.3c enjoying the run of late bring on the drilling HUGE UPSIDE
REAL ENERGY TO COMMENCE HIGH IMPACT
COOPER BASIN DRILLING IN EARLY APRIL
Drilling contract with Ensign International executed
Contract signed for two firm appraisal wells Tamarama- 2 & Tamarama- 3 in ATP927P
Preparation for field operations underway
Fully funded for the drilling of 2 wells
Pilot production to be established if wells are successful
Real well placed to unlock significant value from its prospective Cooper Basin acreage
Sydney, 16th March 2018: Cooper Basin focused oil & gas exploration company Real Energy Corporation
Limited (ASX: RLE) (“Real Energy”) advises that it has signed a contract with Ensign International for drilling
services at its 100%-owned ATP927P exploration permit in the Windorah project, Cooper Basin, in early April
2018.
A contract has been signed for Rig 964 to drill the two pilot development wells, Tamarama - 2 & Tamarama
- 3. If the wells are successful, Real Energy will look to establish pilot production out of the wells and look to
connect flow lines so that sales gas can then be supplied to Australia’s East Coast gas market.
Wellsite and access roads construction for the drilling of the two wells will commence within the next few
days. Real Energy is implementing the Research and Development it has gathered from the drilling, testing
and fracture stimulation from Tamarama-1, and this knowledge is being used to work up a drilling program
for a deviated well design suitable for multi-stage fracs for both wells.
These wells represent a major catalyst to potentially convert Real Energy’s contingent resources into
reserves, and ultimately into production. The other aim is to start proving up the delivery of basin centred
gas play within ATP927 which has a prospective resource estimated by De Golyer & Mac Naugton to be 13.7
Trillion Cubic Feet of gas initially in place.
RLE must be a takeover target sub 50c IMHO
https://www.theage.com.au/business/t...01-p4ziy5.html
“The latest EY report found that 73 per cent of oil and gas executives expect to complete more deals in the next 12 months compared with 37 per cent just six months ago. It isn’t surprising, therefore, that 74 per cent expect their M&A pipeline to increase in the next year,” EY global oil and gas transaction leader Andy Brogan said.