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Solimar Energy Limited: Corporate Update
SGY, V.SXS | 18 hours ago
Solimar Energy Limited: Corporate Update
MELBOURNE, AUSTRALIA--(Marketwired - Aug. 2, 2013) - Solimar Energy Limited ("Solimar" or "the Company") (ASX:SGY)(TSX VENTURE:SXS) is pleased to announce further information regarding the Kreyenhagen Ranch 2-33 well (K 2-33).

The first well (K 2-33) of the Phase I program reached TD at 1,472 feet measured depth on July 20 and was subsequently logged and cased. The well was directionally drilled up to a 48 degree angle and encountered close to 600 feet (measured depth) gross interval of the Temblor heavy oil formation.

Rock and fluid properties, including the relative amounts of sand and shale in the formation and the percentage of oil and water will be investigated in conjunction with the drilling of the second well (K 7-33) of the Phase I program. K 7-33, anticipated to spud in mid-August, will be a vertical well and have whole core cut across much of the Temblor formation to calibrate logs.

K 2-33 will be completed and placed on production, using a completion rig in due course, to obtain reservoir fluid samples and to evaluate the production performance of a deviated well on primary production. The Company plans to include the well in the upcoming Phase II thermal (steam) pilot test currently scheduled for early 2014.


Read more at http://www.stockhouse.com/news/press-releases/2013/08/02/solimar-energy-limited-corporate-update#cPL4bS8WYv2G5drF.99