viewPrimeline Energy Holdings, Inc.

Primeline Energy kicks off LS30-1 exploration well

LS30-3-1 is targeting a large channel sand prospect, and drilling is expected to last 25 days

The new exploration well is located some 25 kilometres from the LS36-1 platform

Primeline Energy (CVE:PEH) has told investors that drilling operations are now underway for the LS30-1 well, offshore China.

It is the second of the two exploration wells planned for this year, and it aims to find more gas resources for the expansion of the group’s nearby production operation.

The new exploration well is located some 25 kilometres from the company's LS36-1 gasfield platform.

LS30-3-1 is targeting a large channel sand prospect, Primeline highlighted, and it will be drilled down to a depth of around 1,800 metres.  The targeted reservoir is the same as the one that produces at the LS36-1 location.

It is anticipated that the drill programme will last for 25 days.

Drill contactor China Oilfield Service towed the rig from the location of the LS23-1-1 well, the preceding well in the programme, and following jack-up on November the well’s spudding occurred on November 13, Primeline confirmed.

Quick facts: Primeline Energy Holdings, Inc.

Price: 0.01 CAD

Market: TSX-V
Market Cap: $2.23 m

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