Golden Gate Resources Ltd, a minor partner in the Novus Petroleum operated well, said "Electric logs are in the process of being run in order to evaluate the interval between 10,973 feet and 15,040 feet."
According to Golden Gate MD, Sam Russotti, "The electric logs will give us an indication as to the significance of numerous gas shows that were recorded during the drilling of this interval. Should the logs show zones of potentially producible hydrocarbons, plans will be made to complete and flow test the well."
"A further release will be made once all of the logs have been obtained and analysed and forward plans have been made," added Russotti.
Golden Gate has a 10% stake in the project. Novus has the majority share (70%) with the balance being held by Moeco. La Playa Deep-1 has already recorded a net eight foot gas column at 10,987 feet, well before the target zone of 12,000 feet and beyond had been reached.
