- Winchester Energy (WEL) finds a potential 84-foot pay zone at White Hat 2106, located in the East Permian Basin in Texas
- The energy company has reached 6820 feet deep at Ellenburger Formation and encountered the pay zone between 6637 to 6721 feet
- The potential pay zone demonstrated strong oil shows and visual vuggy porosity
- On the market this afternoon, Winchester is up 20 per cent, trading at 1.8 cents per share
Winchester Energy (WEL) has found a potential 84-foot pay zone at White Hat 2106, located in the East Permian Basin, Texas.
The energy company has reached 6820 feet deep at Ellenburger Formation and encountered the pay zone between 6637 to 6721 feet.
Winchester said the potential pay zone demonstrated strong oil shows and visual vuggy porosity.
“Wireline logs have been run suggesting net reservoir over the majority of the gross interval however it is noted that estimation of porosity values is problematic in vuggy reservoirs,” the company said.
Additionally, the wireline logs also found potentially productive intervals within both the Strawn Fry and Canyon Reef. however, according to the company, the Ellenburger Formation is the most attractive option at this stage.
The White Hat 2106 well is currently being cased ahead of flow testing which will quantify the reservoir quality and reserves of the potential of the well.
Winchester holds 17,622 acres under lease in Nolan and Coke Counties in the East Permian Basin.
On the market this afternoon, Winchester was up 20 per cent, trading at 1.8 cents per share at 12:10 pm AEST.