announced that the step out well on Emery Hudson (net revenue interest 53.5%) had encountered tight limestone with minimal porosity and as a result minimal gas shows. Following advice from local geologists and geophysicists, Meridian is planning to re-evaluate the 3D seismic data in-house with a view to targeting another re-entry into the Emery Hudson Reef.
Anthony Mason, Chief Executive of Meridian said:
'We are disappointed with the result of Emery Hudson, however we are hopeful
that through re-interpretation of the 3D data we will be able to find a suitable re-entry point to the reef. We remain totally focused on getting our near term production projects on line quickly. In all cases, the emphasis is on moving rapidly but none the less prudently to be in a position to capitalize on the peak winter draw down.'
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