Linc Reports 124-meter Shale Zone at South Australia Site
Drilling Activity Details
Drilling Activity Summary
Description
An exploration well by Linc Energy Ltd, #1-Arck, hit a 124-meter shale zone in South Australia's Arckaringa Basin. The discovery is in the PEL 122 permit area. Linc reported that it encountered the pay zone (Stuart Range) at 854 meters. The formation encompasses an area of about 1,150 sq. kilometers and extends into the nearby PEL 121 permit area. According to the company, the most prospective black shale/siltstone within the deposit is around 70 meters thick between 899 and 970 meters. A preliminary analysis indicated that it has the potential of 25 to 45 liters per ton. A nearby exploration well, #1-Wirrangulla Hill, found Stuart Range shale thicknesses similar to #1-Arck, along with oil fluorescence in its upper geological sequences. Brisbane-based Linc is the operator of PEL122 and its other Arckaringa Basin permits with 100% interest.
An exploration well by Linc Energy Ltd, #1-Arck, hit a 124-meter shale zone in South Australia's Arckaringa Basin. The discovery is in the PEL 122 permit area. Linc reported that it encountered the pay zone (Stuart Range) at 854 meters. The formation encompasses an area of about 1,150 sq. kilometers and extends into the nearby PEL 121 permit area. According to the company, the most prospective black shale/siltstone within the deposit is around 70 meters thick between 899 and 970 meters. A preliminary analysis indicated that it has the potential of 25 to 45 liters per ton. A nearby exploration well, #1-Wirrangulla Hill, found Stuart Range shale thicknesses similar to #1-Arck, along with oil fluorescence in its upper geological sequences. Brisbane-based Linc is the operator of PEL122 and its other Arckaringa Basin permits with 100% interest.