- Norwest Energy’s (NWE) shares enjoy a short spike into the green after posting a drilling update from its Lockyer Deep-1 exploration well in Western Australia
- The company commenced well drilling earlier this month, which is hoped to test a structure within the Permian deep gas play of the north Perth Basin.
- Norwest says drilling has reached the casing point and that elevated gas shows were evident at various depths
- Norwest Energy shares are trading in the grey at one cent
Norwest Energy’s (NWE) shares enjoyed a short spike into the green after posting a drilling update from its Lockyer Deep-1 exploration well in Western Australia.
The company began its first drill of the 4185-metre planned well on August 16, which is designed to test a structure at the Kingia and High Cliff formations within the Permian deep gas play of the north Perth Basin.
Norwest said drilling had reached the intermediate casing point at a depth
of 3097 metres on August 22 2021 and that “elevated gas shows were evident at various depths” within the Cattamarra Coal Measures, the Eneabba Fm and the Lesueur Sandstone.
The company noted none of these were primary or secondary objectives of the drilling programme.
“The casing point was picked some 300 metres shallower than prognosed, due to encountering a suitably competent section within the Kockatea Shale after crossing the Lockyer Fault at a depth of 3063 metres,” the company said in a statement.
“This is an excellent outcome as it enables full wireline logging of the yet-to-be-drilled Hovea/Dongara/Wagina interval within the final section, in addition to logging of the primary reservoir objectives.”
Norwest said its forward plan is to set 9 – 5/8 inch casing and provide an update once drilling has resumed.
Norwest Energy shares were trading in the grey at 1:20 pm AEST at one cent.