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2011 Lateral Well Successfully Completed
COMPANY ANNOUNCEMENT
4th April, 2011 Lateral Well Successfully Completed
L&M Energy Limited (LME) is pleased to provide the following update at the Ohai pilot project.
OM#7 has successfully intersected production well OM#5 within the thick target Morley #2 coal seam after drilling a lateral length of 1035m. In light of the good drilling conditions within the Morley #2 seam, the lateral section was extended a further 115m to 1150m.
In order to assist with development planning for the area, the company has elected to commence production testing immediately from OM#5 prior to drilling the second lateral section.
The pilot project follows on from the company’s 3P reserves upgrade to 274 PJ and forms a key part of the Company’s 2P gas reserves campaign which is aimed at independently certifying New Zealand’s first tranche of 2P CSG reserves.
ENDS
About L&M Energy Limited
L&M Energy
Limited is a New Zealand based company dual listed on the
ASX and NZX stock exchanges focused on the development of
commercial coal seam gas resources and discovery of
conventional oil and gas resources. The Company holds equity
interests in exploration acreage contained within six New
Zealand exploration
permits.
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