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IPB Petroleum Limited, Pryderi-1 Exploration Well Update

IPB Petroleum is pleased to advise that the Pryderi-1 exploration well in WA-424-P (IPB 75%) has reached a depth of 446 m (RT) in 17.5 inch hole late afternoon of 11 November.
Planned operations over the next 48 hours include cementing the 13.375 inch casing and installing the blow out preventer (BOP). The well to then be drilled to a planned total depth of approximately 680 m (RT) in a 12.25 inch hole.
Pryderi-1 is a relatively shallow well and based on the current schedule IPB estimates that the target reservoir at approximately 615 m (RT) will be intersected towards the end of the week.
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