Based on the company’s current information it is expected that the two to three well program in PEL115 will commence in the last week of August with the Hornet prospect and will be followed immediately by either the Ventura and/or the Airacobra prospects. Depending on the results of the first two wells a third may be drilled.
In PEL111, drilling is expected to commence with the Catalina prospect in October followed by two wells, as yet to be determined, in PEL104. A Joint Venture meeting scheduled for early August will finalise the PEL104 well locations.
Impress is looking for positive results from the drilling program with the ‘success ratio’ on the ex-Santos permits now running at 42%. In addition to the August five to six well program there are a further 11 wells planned over the next three years from the over 50 prospects already identified in permits PEL104, 111 and 115.
