Executive director Richard Sciano said the well had reached 1807m by last Friday, when 13¨ü-inch casing had been set and cemented, and the drill string replaced, on its way to the 4420m target depth.
The well, which spudded late last month, is targeting 11 potential pay zones within the Golden Eagle structure that has the potential to hold 3 trillion cubic feet of gas in Pennsylvanian and Mississippian reservoirs. The primary target is the Mississippian Leadville limestone formation, with the Pennsylvanian Paradox formation a secondary target.
Golden State operates and holds an initial 100% interest in the well, and operates through its US subsidiary, Golden Eagle Exploration, but Denver-based joint venture partner Eclipse Exploration has the right to back in with a 16.67% working interest after the drilling of two wells.
