Icon Energy (ASX: ICN) is an oil and gas explorer operating in the Cooper-Eromanga and Surat-Bowen Basins of Queensland, Australia.
Icon Energy (ASX: ICN) has spudded its second coal seam gas well – Eolus-1 – in the Surat Basin, Queensland, targeting the Walloon Coal Measures.
The earlier Windom-1 well had intersected a thicker than expected coal seam with low permeability.
The 2 wells are part of the second stage work program of Stanwell Corporation’s farm-in to exploration permit ATP 626P.
Stanwell had originally farmed in to earn a 50% stake in the Lydia block in ATP 626P.
However, a 4 well drilling program found the coal seams in the area had lower permeability than needed to proceed to a second pilot project.
The farm-in was then expanded to cover the entire permit and the focus of exploration turned to prospects south of Lydia.
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