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L&M Petroleum Spuds Sharpridge Creek-3 Well
21 May 2007
L&M Petroleum Spuds Sharpridge Creek-3 Well
L&M Petroleum Limited is pleased to announce that earlier today it commenced drilling its third well in the Sharpridge Creek Prospect within Petroleum Exploration Permit (PEP) 38226 in the Waiau Basin, Western Southland District, New Zealand.
The Company has programmed the Sharpridge Creek-3 well to be drilled to a total depth of 450 m as a further follow-up well to the Sharpridge Creek-1 well, which the Company drilled in February 2006.
The previous follow-up well, Sharpridge Creek-2, was plugged and abandoned after encountering basement 130 m high to prognosis. The Washington Exploration DR24 drilling rig was skidded 190 m to the west to the Sharpridge Creek-3 well location.
The well is expected to reach its total depth by the end of the week.
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