Report of the Rathlin Liaison Community Group Meeting,12th June 2019

We have watched the rise in the share price of both Reabold Resources & Union Jack Oil who hold a stake in Licence PEDL 183 contains the significant West Newton A-1 gas discovery.

The Discovery well was originally drilled back in 2014 by Rathlin Energy UK, testing gas out of the Permian at four and a half million (419 Bcf), a sizable structure would be an understatement. In1971 BP drilled the Great Hatfield 1 well, 4.3km north of the current drill location.

 

 

The West Newton A-2 appraisal well, targeting the Kirkham Abbey Shoal and Cadeby Reef formations for gas and oil respectively was spudded at [01:45] on 26 April 2019. The best estimate Contingent Resource of 189 billion cubic feet of gas equivalent within the Kirkham Abbey Shoal formation.

ln addition, there is considerable upside potential from the lower, Cadeby Reef formation, oil exploration target underlying the gas reservoir, with a gross Best Estimate Prospective Resource of 79.1 million barrels of oil equivalent.

 

 

Today we have come across a document on FaceBook shared by Peter Hamilton, we can not confirm the source, origins of the information. Please take into account this was published on the 12th June 2019 and further progress would have been made since this publication.

 

Schlumberger Cement truck leaving West Newton A-2 Drill site yesterday evening

( Image’s Peter Hamilton)

 

The document reports being the Rathlin Liaison Community Group Meeting held on 12th June 2019, it looks to be an official document but as we have stated, we have been unsuccessful invalidating the content.

Here are a few pointers:

  • Drilling was running 10 days behind schedule 
  • Target depth has been reached at 2060 meters
  • Cores have been cut and retrieved
  • Wireline logs have been recorded in the lower reaches of the well 
  • Analyst of the cores and wireline logs will determine what test will be required 
  • Next job is to run casings to the bottom of the well and to cement this in
  • During the next two week’s, the rig will be demobilised from site 
  • A smaller well exploration rig will be mobilized to site, erected and commissioned 
  •  Flow tests will be conducted 
  • More wells could be drilled on this site 
  • Rathlin Energy has partners who have interests in the well, they will need to be consulted about the well testing 
  • HSE has been given notice for getting a perforation gun on site 
  • Flares to be used on site during testing 

 

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Share Talk is not responsible for personal views – content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

 

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