Oil company Salamander Energy has said that drilling at the Far East well in its operated B8/38 licence, Gulf of Thailand, initially found no evidence of hydrocarbon saturation despite encountering a 25m section of 'excellent quality' sandstones, the primary target on depth prognosis.
However, once the well was deepened oil shows were seen at 1,366m total vertical depth sub-sea (TVDSS) and severe mud losses were experienced from 1,370m TVDSS.
The firm said the interpretation of the drilling data shows zones of potential oil pay in a highly porous section from 1,365m to current total depth of 1,396m.
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
The well is currently being stabilised ahead of running further tests, the results of which will be known shortly.
NR
-
How to find the best luxury hotel dealsKnowing how to find the best luxury hotel deals can help holidaymakers enjoy high-end experiences without the sky-high costs. We reveal how to bag the best value for less.
-
Frozen thresholds could push ‘tax freedom day’ to latest date this centuryTax freedom day is the point in the year you stop earning for the taxman and start earning for yourself. A rising tax burden could push it to 12 June this year – the latest date since 1982.
