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News Breaks | | | | September 6, 2012 | | 09:04 EDT |  | GGR | GeoGlobal provides update on Myra-1 drilling
GeoGlobal Resources announced that the Myra-1 well reached a final Total Vertical Depth Subsea, or TVDSS, of approximately 5,200 metres. Based on logging performed during the drilling, sands were encountered in the Miocene but they appeared to be water saturated and no significant quantities of hydrocarbons were detected. GeoGlobal and its partners in the well have decided to perform wire line logging at a total cost of $1.7M to definitively determine the presence of any hydrocarbons in the well and to gather geological information with respect to the Myra license which may also prove useful with respect to making future drilling decisions at both the Myra and Sara licenses. Following the completion of wire line logging, the Noble Homer Ferrington semi-submersible drill rig will be moved to the Sara-1 location, which the company expects to happen by the end of September. | |
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News For GGR From The Last 14 Days Check below for free stories on GGR the last two weeks. |
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