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IPB Petroleum Limited, Pryderi-1 Drill Rig Handover Now Scheduled for 24 October

IPB Petroleum advises that the WA-424-P Joint Venture (IPB 75%, CalEnergy 25% and Operator) has received updated advice from its drilling contractor that the estimated commencement date for the Pryderi-1 rig contract is around 24 October, 2014.
Subject to completion of current operations at the Puffin field (located approximately 120 km north of WA-424-P), and based on the estimated mobilisation date, IPB Petroleum estimates that the Stena Clyde semi-submersible rig will arrive at the Pryderi-1 well location on or around the 25 or 26 October, 2014.
Pryderi-1 is a relatively shallow well and based on the current schedule IPB estimates that the target reservoir will be intersected during the first week of November. The well is to then be logged before being plugged and abandoned.
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