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Eastern Gas commences Venus-2h well drilling
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Eastern Gas commences Venus-2h well drilling

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  • Eastern Gas commenced drilling of the Venus-2H horizontal appraisal well at Project Venus.
  • The company share price remained unchanged at $0.16 following the operational update.
  • The company stated that the appraisal programme is designed to generate data supporting future reserve conversion and field development planning.

Eastern Gas (ASX:EGA) has commenced drilling operations for the Venus-2H horizontal appraisal well at Project Venus, targeting completion and production testing within approximately 14 days.

The drilling marks the first horizontal coal seam gas well drilled in the region, following the prior preparation of the existing Venus-1 vertical well.

The Venus-2H well is designed to intersect with the existing Venus-1 well to establish an integrated production pilot for initial gas deliverability data.

The integrated appraisal programme is designed to generate data to support future reserve conversion and field development planning, with multiple operational milestones expected over the coming weeks.

Following the announcement, the business aims to advance its regional appraisal schedule through subsequent flow testing phases.

Following the announcement, the Eastern Gas Corporation share price was unchanged at $0.16.

The energy explorer was listed on the Australian Securities Exchange in February and holds exploration interests including Project Venus and Project Windorah.

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