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Winchester Energy Ltd

Winchester Energy demonstrates further oil and gas shows with wireline logging underway in Texas

Interpretation of the wireline logs is required to determine the potentially productive net oil pay in zones where oil and gas shows have been observed while drilling.

Oil drill rig
The Eastern Permian Basin surrounding Winchester’s leasehold has produced over 100 million barrels of oil

Winchester Energy Ltd (ASX:WEL) has observed additional oil and gas shows from 6,565 to 6,650 feet in the Caddo Formation during drilling of the White Hat 20#3 well targeting the Mustang prospect in the Permian Basin of Texas.

The Caddo Formation is a known oil producer on the Eastern Shelf of the Permian Basin but is not a target in the well.

These oil and gas shows in the Caddo Formation come after the primary target, the upper Strawn Sand was intersected.

READ: Winchester Energy demonstrates good to excellent oil shows during drilling in Texas

On Tuesday, Winchester announced that this target exhibited good to excellent oil and gas shows with the visual porosity very encouraging, estimated between 10–12% with intervals as high as 18%.

At 35-45 net feet, the thickness of the sand appears to be at the upper end of the predicted range.

Fair and good oil shows were also encountered in the Strawn Lime, a secondary target between 5,770 and 5,910 feet, 50 feet high to the nearby producing White Hat 20#2.

The shows were observed with good fluorescence and cut in limestones with thin interbeds of dark organic, laminated shale.

Wireline logging underway

Wireline logging is underway at the drilling depth of 6,650 feet with logging results to be announced early next week.

Following the wireline logging, the well will be cased and then deepened to drill the other primary target in the well, the Ellenburger Formation estimated at 6,700 feet.

This will be followed by drilling 150 feet into the fractured Ellenburger with light potassium chloride (KCL) water followed by an open-hole test of the Ellenburger.

Winchester Energy, as project operator, has all the completion and production facilities lined up so the well can be production tested and put on production rapidly.

First well in exploration campaign

White Hat 20#3 represents the first well in a forthcoming exploration drilling campaign, with the company set to drill several new vertical wells targeting prospective resources within the Mustang, Spitfire and El Dorado prospects.

Carl E Gungoll Exploration LLC (CEGX), a private independent Texas-based company, is participating for a 25% working interest in the drilling of White Hat 20#3.

Quick facts: Winchester Energy Ltd

Price: $0.07

Market: ASX
Market Cap: $39.29 m
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