Any of you guys on this one?
· Paradox Basin #1 well is at 11,950 feet (3,642 m) and drilling on
· Strong formation gas pressures and gas influx to well upgrade
· Target potential 3 TCF gas
One of my mates brought it to my attention and I decided to jump on the train.
"The well is drilling on towards its main targets, which have been interpreted from seismic data to have the potential to contain up to 3 TCF of gas, the Barker Creek (estimated depth to base 12,730 feet) and the Leadville Limestone (estimated depth of top 13,700 feet). The Leadville Limestone hosts the Lisbon Oil & Gas Field, 80 km to the south. The Lisbon Field has produced 54 million barrels of oil and 750 BCF of gas, at current prices equivalent to a gross income of A$10 billion.
It is anticipated that the well will reach the primary objective Leadville Limestone within 7 days."