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 8am on 20 July 2015 the well had reached a depth of 367 metres (measured depth) and was drilling ahead.
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.