Red Emperor Resources says spudding of milestone well in Puntland all set
10:50 am by Giles Gwinnett
The spudding of the first well for 20 years in Puntland, Somalia, is set to go ahead in Q4 this year, Red Emperor Resources (LON:RMP, ASX:RMP) announced.
In the quarter to September 30, the operator of the Puntland project - Africa Oil Corp - signed the landmark drilling contract with Sakson Drilling and Oil Services and everything is in place to allow for the spudding during the fourth quarter, the firm said today.
The company also told investors that in the September quarter, its joint venture partner MetalBank Ltd, had released initial results from the second phase of geochemical soil sampling at the Jillewarra project in Western Australia.
This sampling had defined three potential targets, the firm added.
The spudding of the first well in Georgia - the Mukhiani-1 - took place during the quarter and operations have continued at the Georgian project.
As at October 2011, the well had reached a depth of 1544 meters with a proposed target depth of 3500 meters.
The firm said that a full suite of wireline logs had been recorded at the well and "valuable information" had been obtained from sidewall cores.
