RE: Cheap3 Jun 2020 20:59
"As a result, testing of the shallower Magallenes 60 interval, which was the upper secondary target of the CLM x-1 well, and the Magallenes 40 interval is now under consideration with the objective, in aggregate with the flow rates achieved from the intervals already tested, of seeking to exceed the commercial threshold. These additional sand intervals showed elevated gas shows during drilling and, whilst there can be no assurance that further testing and/or commerciality of the well will follow, further technical work will now be undertaken by the Tapi Aike partners to aid the consideration of whether testing of these additional intervals should be undertaken. In the interim, the CLM x-1 well will be shut in for evaluation and the Well Head Pressure will be measured during this time".
Wouldn't it be great to receive an unexpected RNS to say the other zones have been tested and they have achieved a combined commercial flow rate! I suppose the decision rests with what CGC think of it!