Guijarral Hills Exploration Well Update
Neon Energy Limited (Neon, ASX: NEN) is pleased to announce that the Guijarral Hills exploration well (Solimar 76-33) has been successfully drilled to a Total Depth of 10,550 feet and that the initial analysis of wireline log data suggests potential for 50 to 60 feet of net hydrocarbon pay over the target reservoir formations, which include the Allison, Leda, Lower Avenal and Lower Gatchell Sandstones.
After running 7 inch casing to Total Depth, the Paul Graham #5 rig was released with plans to mobilise a smaller rig to conduct production tests over a number of the prospective zones. It is expected that these tests will commence in two to three weeks time.
The Company will provide further updates as production test results become available.
As a consequence of a farmout by Neon and Solimar to Blast Energy Services, partner interests in the well are as follows:
Neon Energy 15%
Solimar Energy (Operator) 35%
Blast Energy Services 50%
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