During the period, drilling commenced at the Sugarloaf-1 well located in the
onshore Gulf Coast Basin in Texas, reaching a total depth of 6,371 metres.
Wireline logs were successfully run over the open hole section of the
Sugarloaf-1 well between 5,182 metres and total depth. A five inch production
liner has since successfully set and cemented the Sugarloaf-1 well at 6,034
metres and was tied back into the casing at 5,183 metres.
Interpretation of wireline logs over the primary target indicates that an
aggregate of 27.4 metres of potential reservoir are gas saturated and may be
capable of commercial production after fracture stimulation.
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