Company News Summary
New Standard Energy Provides Gibb Maitland No.1 Weekly Drilling Update
Original announcement: Gibb Maitland No.1 Weekly Drilling Update
New Standard Energy advised that as at 12 noon (WST) on 26 December 2012 the Gibb Maitland #1 well had been drilled from a depth of 1,300m to a depth of 1,758m. Forward operations for the week will involve pulling out of the hole to conduct a scheduled blow out preventer test, change the drill bit and run back into the hole with a revised bottom hole assembly including logging while drilling (LWD) tools before drilling ahead in 12 1/4" hole towards the second casing point in the well. The LWD tools should enable better selection of the second casing point which will be located above the primary coring target of the Goldwyer formation. Drilling is expected to take 65 days (drill, log and suspend) and no horizontal drilling or hydraulic fracturing will be involved in this phase of the program.
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