Vintage Energy and joint venture partner Comet Ridge Limited (ASX: COI) are pleased to announce that the Comet Ridge – Vintage Deeps (CRVD) Joint Venture (JV) in the eastern Galilee Basin has recorded a stabilised gas flowrate of 230,000 scf/d (standard cubic feet per day) across a 13 metre interval in the Lake Galilee Sandstone (LGS) Reservoir from 2582 to 2595 metres at its Albany-1 well. The JV believes that this gas flow is the first measurable flow of natural gas from the Lake Galilee Sandstone in the Galilee Basin.
Comet Ridge Managing Director, Tor McCaul was quoted as saying “We are extremely pleased with the initial flow rate at the Albany-1 well, which has been achieved from a 13 metre interval, which represents approximately 10% of the sandstone interval targeted by the well.“
“The well was being drilled underbalanced with nitrogen, when the drillstring became stuck across the flowing reservoir interval, so it is possible that part of the interval was obstructed from flowing by the stuck drillstring and/or other rock material in the hole. The Joint Venture has taken the decision to suspend drilling in order to secure a larger rig to complete Albany-1.” The total remaining gross gas bearing sandstone yet to be drilled in Albany-1 is approximately 100 metres. Comet Ridge believes the best option to finish this well is to use a larger rig and undertake that work with the drilling of Albany-2.
An overview of the technical parameters in relation to the flowtest is contained at the end of this release.
The flow of gas was continuously flared for approximately 24 hours (before being terminated for a planned short build up test) with the gas flow for the last hour of the flowtest being diverted through an orifice metering system for accurate measurement. No water production was observed and no decline in the gas flow was observed throughout the duration of the test.
Details of the gas flow, the hydrocarbons produced, and the results of the testing carried out, will be provided in due course to the Department of Natural Resources, Mines and Energy (DNRME) as required under relevant Queensland legislation.