Linc Energy Ltd. provided an update on the drilling operations in the Arckaringa Basin in South Australia. The Eba 1 vertical exploration well (PEL121) is the second of the three well program and is planned to be drilled to a total revised depth of approximately 9,514 feet (2,900 meters).
Since the last progress update, a number of productive days were lost due to a leaking wash pipe in the top head drive. These setbacks have since been rectified and as of 06:00hrs March 4, the main hole rig was rigging up to run in hole and drill ahead in the Officer Basin equivalent of the Cambrian Relief Sandstone at a depth of 8,930 feet (2,722 meters).
On Feb. 25, a Vertical Seismic Profile (VSP) was recorded to a depth of 8,612 feet (2,625 meters) to confirm the Eba 1 surface well-seismic ties. This provided a more reliable forward prognosis correlation as the pre-Permian velocities were poorly controlled in the area due to the lack of historical well intersections in the Arckaringa Basin.