Vecta Project Drilling Commenced
Mosman commences drilling first of five wells at Vecta Project in Colorado to test for helium.
- Vecta Project interest 90% Billy Goat, 20% working interest other areas
- Planned well depth in Lyons Sandstone circa 800ft
- Helium concentrations in offset wells up to 11%
- Helium from closest offset well (Texaco Cynthia True-1) 8.8%
- Number of wells planned 5
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Mosman Oil and Gas Limited (AIM:MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, is pleased to announce the spudding of the first exploration well of a five well programme in the Vecta Project, Las Animas County, Colorado, US.
Highlights
- Drilling has commenced and surface casing set.
- The Barclay-TH 295 106A well will test the Lyons Sandstone formation at the Billy Goat lease area ("AMI"), with a planned total depth ("TD") of circa 800ft in the Lyons Sandstone.
- Drilling will continue to determine top of Lyons formation, and then to TD.
- Gas will be tested to determine concentrations of gases, including helium.
- Wireline logging will be conducted at TD to determine the reservoir and gas/fluid properties.
Vecta Project (90% interest in Billy Goat, 20% working interest in other areas)
The Vecta Project is operated by Vecta and is located in Las Animas County, close to the Red Rocks helium producing field, and Blue Star Helium's Galactica development project. Helium concentrations of up to 11% have been encountered in offset wells and fields in the area, with the closest well, Texaco Cynthia True-1, flowing 8.8% helium from the upper Lyons sandstone.
A total of five wells are planned to be drilled in this drilling campaign, testing five individual structural closures.
Location Map illustrating the five prospects identified by surface mapping within the Project Area (Courtesy of Vecta Oil and Gas Ltd.).
Andy Carroll, Chief Executive Officer of Mosman, said: "The drilling of this Billy Goat well is exciting given the excellent lease position in a proven area of helium development and production
"Each well location has been carefully selected by the very experienced team at Vecta and we believe each well has an excellent chance of discovering helium. The low-cost drilling of these wells enables data to be obtained at very reasonable cost.
"This location has good access to infrastructure including roads, pipelines and the Ladder Creek helium plant located at Cheyenne Wells, about 100 miles north of Billy Goat."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.