“DST 1 was conducted across the interval 1801-1811 m, and resulted in no fluid to surface with a recovery in the pipe of 31 bbls of water and mud. The sample chamber contained a mixture of oil and water,” said the company in a statement this morning.
The well was drilling deeper to evaluate the lower Triassic sections.
INP dropped back from highs of $1.48 to be trading at around $1.00 at press time. It has had two successive commercial discoveries, Flax and Yarrow, which have pushed INP’s price to the current levels from its 20 cent listing in November.
INP (35%) is partnered by Vernon E. Faulconer (65%)
