Leyshon Resources reports drilling success in China
China-focussed gas exploration company Leyshon Resources has published an update on its drilling activities, revealing the discovery of 'multiple potential pay zones'.
China-focussed gas exploration company Leyshon Resources has published an update on its drilling activities, revealing the discovery of 'multiple potential pay zones'.
The company stated that its wholly-owned subsidiary, Pacific Asia Petroleum (PAPL), had completed the drilling and wire line logging of two wells known as "ZJS5" and "ZJS6". This was in addition to flow testing of ZJS5 on its newly acquired Zijinshan Gas Project on the eastern fringe of the Ordos Gas Basin in Central China.
Leyshon Resources stated that drilling at both ZJS5 and ZJS6 had intersected multiple potential pay zones, with initial results indicating that ZJS5 had encountered nine potential pay zones with a total thickness of 56 metres. The ZJS6 well encountered 15 potential pay zones with a total thickness of 80 metres.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
A flow test without stimulation was conducted on two potential pay zones in ZJS5 which confirmed that fracking would be required to produce commercial gas flows.
Managing Director Paul Atherley commented: "We are very encouraged by the positive progress we have made to date which has exceeded our initial expectations for the Zijinshan Gas Project.
"We have made the decision to accelerate the 2013 programme with plans to drill and test six wells, capture 300 kilometres of seismic data with the aim of delineating a resource by the end of the year."
MF
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
The five insurance policies you should have
Some insurance cover will be more important than others. We look at five insurance policies you may need to have to make sure you aren’t caught out in an emergency
-
Is Donald Trump putting the US dollar in danger?
Donald Trump's administration sees one of its greatest advantages – the US dollar – as a burden. Gold is the obvious beneficiary, says Cris Sholto Heaton.