The Directors of Triple Energy Limited provide the following update on activities at the Niaoshan-1 well currently underway in the Bird Mountain area of the Company's Aolong Joint Venture project in the People's Republic of China.
As of 10am on 3 August 2015 the well had reached a depth of 787 metres (measured depth) and was drilling ahead. The well is expected to reach the first of up to four prognosed coal seams in the next week. Testing and coring procedures are being prepared in readiness for these operations.
Niaoshan-1 was spudded in the Bird Mountain area on 28 June 2015 and is the first of 2 wells being drilling during 2015. The well is located around 2 kilometres from the previous Xian Xian-1 well drilled by the Joint Venture in 2013. The well is targeting several major coal seams for intersection which will be cored for desorption analysis and tested.
The well is planned to be drilled to a depth of approximately 1,300 metres.
The second well of 2015 will follow with the same rig once operations at Niaoshan-1 are complete. Further updates will continue to be made on a weekly basis during drilling and as material developments occur.