Austin Exploration Limited says that the Operator is preparing to run logs to evaluate a newly drilled section of the onshore St. Gabriel #1 (VUA: Bourque #1) oil and gas exploration well in the United States, in which Austin has a relevant interest.

The well reached total depth of 10,790 feet on Sunday night (US time) with Operator, Drillmar Oil & Gas, Inc., of the opinion that a drilling break at 10,640 feet is sufficient to test the W sands, the main objective of the well.

Drillmar has indicated that prior to the drilling break, background gas was consistently 400 units, but increased to between 800-1000 units post drilling break. The well will now be cased to total depth, the rig released and wireline logs run to evaluate the newly drilled portion of the well.

St. Gabriel #1 is located in the Iberville Parish in the US state of Louisiana and has a potential recoverable resource ranging between 1.82 - 5 million barrels of oil, and between 13.6 – 36 billion cubic feet of gas. The well had an original target depth of 10,800 feet (3,291 meters) Austin Exploration maintains a cumulative 20% working interest under a farm-out agreement with Drillmar Oil & Gas Inc, as Operator.

Tags: Austin Exploration Limited