IGas released its 2018 financial year results to the stock exchange this morning.
Included in the Chairmans Statement the following on Tinker Lane:
We spudded the Tinker Lane well on 27 November 2018 and reached TD on 17 December 2018, significantly ahead of schedule. Whilst we did not encounter the Bowland Shale, the preliminary tests on shale samples from within the Millstone Grit Group are encouraging for the potential gas resources in the Gainsborough Trough basin. The analysis of these samples is still subject to further testing and validation. The results of this well will help calibrate our geological models of the region and importantly has demonstrated further improvements in drilling performance, which will be an important component of commerciality.
The well has now been plugged and abandoned and preparations are being made to fully restore the site.
With regard to Springs Road (Bloodhound Missile Site as per image above from Jackson’s site entrance):
We mobilised the equipment to Springs Road in early January 2019 and spudded the well on 22 January 2019. In mid-February, we encountered shales on prognosis, at c.2,200 metres depth and drilled through a hydrocarbon bearing shale sequence of over 250 metres, including the upper and lower Bowland Shale. TD has been reached at 3,500 metres after encountering all three targets – Bowland Shale, Millstone Grit and Arundian shales. Significant gas indications were observed throughout the shale section and additionally within the Millstone Grit sequence and the Arundian shale. The cores and wireline logs will now undergo a suite of analysis, the first results of which should be available in the second quarter of 2019.