Northcote says that the Lutcher Moore #20 well targeting the Frio Formation at the Shoats Creek Project in Louisiana, successfully reached total depth of approximately 5,500 feet on 14 July 2015. Mud logs have indicated the presence of hydrocarbons in the targeted payzone, in line with the pre-drill geological forecast.
The next steps involve running casing down the Well and analysing data recovered from the electric logs which are expected to be completed within the next few days. This will allow flow testing operations to commence next week to determine the Well's commerciality. Further announcements on LM20's progress shall be made in due course.