Galilee Basin Drilling Update: Albany-1 Well

Monday, June 25, 2018

Vintage Energy and joint venture partner Comet Ridge Limited (ASX: COI) are pleased to provide an update on the ongoing drilling operations at the vertical Albany-1 conventional appraisal well in the Galilee Basin. At 0600 hrs this morning, the well had progressed to 2581 metres and was in the top of the Lake Galilee Sandstone reservoir section.

Progress over the past week has been delayed by drilling issues caused by a hammer drilling bit failure. This resulted in the requirement to pull this drilling assembly out of the hole and run a different drill bit. Although the nitrogen drilling system has been working effectively thus far in the well, on Sunday 24 June a failure occurred in the booster. The problem was quickly diagnosed, and a specialist technician and replacement parts are arriving on site this morning. Drilling is expected to resume later today, with approximately 200 metres of section remaining to be drilled.

The total depth (TD) of the well is prognosed to be approximately 2775 metres.

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Vintage Energy

Vintage Energy has been established to acquire, explore and develop energy assets within Australia that will provide gas to the eastern states.

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