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Report on Kaitangata Multi-Well Coal Seam Gas Programme
28th November, 2011
Progress Report on Kaitangata Multi-Well Coal Seam Gas Programme
• Appraisal well, Lockington-2 drilling has intersected approximately 4.2m of coal to date and is drilling ahead at 229m
• A multi well programme of up to 6 production testing and stratigraphic wells are to be drilled during Q4 2011 and Q1 2012 at the Kaitangata coal field 60 kilometres south of Dunedin
L&M Energy is pleased to provide the following update regarding its initial Kaitangata CSG appraisal programme within PEP 38219, located 60km south of Dunedin.
Lockington-2 is at a current depth of 229m and is drilling ahead towards an estimated target depth of 350m. The hole has intersected approximately 4.2m of net coal from the Capstick seam which is the first of up to five anticipated coal seams, namely the Capstick, Jordan, Kai Main, Carson and Shore seams. Five cored coal samples have been taken for further analysis, including measurement of gas content and saturation levels.
Lockington-2, located approximately six km to the south of Wangaloa-1, has a target depth of 350m. This well is located near Lockington-1 which was drilled in 2007. Lockington-1 intersected 8.30m of Kai Main coal, with a measured permeability of in excess of 300mD. A third well, Wangaloa-2 is to be drilled after Lockington-2 and is located in the north east of the coalfield.
Managing Director, Kent Anson commented “It is encouraging to see some early coal within the Lockington-2 well, particularly considering that we are still quite high within the coal sequence and within a relatively untested area of the coal field.”
About L&M Energy Limited
L&M Energy Limited is a New Zealand based company dual listed on the ASX and NZX stock exchanges. The Company is focused on the discovery and development conventional and unconventional oil and gas resources. The Company holds equity interests in over 8,200 km2 of exploration acreage contained within eight New Zealand exploration permits.
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