Eaglewood Energy Inc. says that as at 16:00 hrs (GMT +10hrs) on Wednesday 5th January, the Ubuntu-1 well was drilling ahead in 12 ¼" hole at 1920 metres, after having successfully drilled and cased 17 ½" hole to 1336 metres. The Ubuntu-1 well is expected to reach total depth of approximately 3600 metres in early February.

Over the course of the next week, the anticipated operations will be to drill the remainder of the 12 ¼" hole to the base of the Darai Limestone at approximately 2425 metres, and set the 9 5/8" casing.

The Ubuntu-1 well is located on Petroleum Prospecting License 259, approximately 17 kilometres east of the Ketu and Elevala gas condensate discoveries in Papua New Guinea. Eaglewood holds a 40 percent participating interest in the Ubuntu Area of Petroleum Prospecting License 259.

Tags: Eaglewood Energy