WestSide Corporation Limited (ASX:WCL) Galilee Basin Exploration Drilling Program Update
Sydney, Dec 14, 2011 AEST (ABN Newswire) - WestSide Corporation Ltd (
ASX:WCL) advises that Galilee Basin exploration well Glenlyon 2, within ATP 974P in north western Queensland, has been drilled to 1,222 metres and intersected in excess of 10.8 metres of gross coal measured.
Due to the onset of the summer wet weather season in the region the Joint Venture has prudently suspended operations and expects coring at Glenlyon 2 to recommence when the drilling program resumes in March/April next year.
The well intersected approximately 80 metres of Betts Creek Formation, but has not yet intersected the main target horizon, being the Aramac Coal Measures.
Glenlyon 2, sited about 70km south of Richmond, is the second in an exploration program investigating the hydrocarbon potential of the Permian-age Betts Creek and Aramac Coal Measures present throughout the basin.
WestSide has a 51 per cent operating interest in ATP 974P and ATP 978P in joint venture with Mitusi E&P Australia Pty Ltd which has a 49 per cent interest in both tenements.
The tenements in the north-western part of the Galilee Basin cover a combined area of 14,480 km2 which WestSide believes could contain up to 21 trillion cubic feet of gas in place.
WestSide will issue regular updates as and when appropriate as the exploration program progresses.
ATP 974P & ATP 978P: Galilee Basin exploration drilling program
--------------------------------------------------------------------------Well Well Type Spud Date Finish Date Net Coal Current Status--------------------------------------------------------------------------Glenlyon 1 Exploration 22 Sept 11 Nov N/A Plugged and 2011 2011 abandoned--------------------------------------------------------------------------Glenlyon 2 Exploration 12 Nov TBA TBA Temporarily 2011 suspended--------------------------------------------------------------------------
Contact
Dr Julie Beeby
Chief Executive Officer
Tel: +617-3020-0900
Richard Owen
Investor & Community Relations Manager
Tel: +617-3020-0900
Mob: +61-412-869-937
Email: richard.owen@westsidecorporation.com
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