Business
Commencement of Drilling at East Denver
Commencement of Drilling at East Denver.
About this update from Chill Brands Group Plc
[{"type":"text","content":"\n \nRNS Number : 7233N Highlands Natural Resources PLC 11 August 2017 \n\n11 August, 2017\n \nHighlands Natural Resources plc ('Highlands' or 'the Company')\n \nCommencement of Drilling at East Denver Oil and Gas Project\nand Admission of Ordinary Shares\n \n \nHighlands, the London-listed natural resources company, is pleased to announce that it has successfully mobilized and assembled a horizontal drilling rig at its East Denver Niobrara Project (\"East Denver\"), a shale oil and gas project in Colorado, and commenced drilling its first well on 10 August, 2017. Based on strong shareholder uptake in the Open Offer completed 31 July, which was not previously included in the Company's budgets, the Company has been able to achieve meaningful operational advantages by spudding two wells in series. The Company will first drill and set approximately 2,100 feet of surface casing for the Wildhorse 5-64 15-16-1BHZ (\"Wildhorse\"), which is designed to target the Niobrara B horizon, then immediately shift the rig to drill and set surface casing for the adjacent Powell 5-64-15-16-1CHZ (\"Powell\") well, which targets the deeper Niobrara C formation. The Company will then continue drilling out the remainder of the deeper Niobara C Powell well, which will let the Company gain valuable data about the shallower Niobrara B on the way down. The well cost of the Powell and Wildhorse are essentially equal, and this enhanced drilling plan will allow Highlands to drill the remainder of the Wildhorse well in due course with the benefit of additional geologic data obtained in the Powell well. \n \nDrilling and casing the Wildhorse's surface casing is expected to take several days, walking the rig to the Powell well will take approximately one day, then drilling operations for Powell are expected to last approximately two weeks with a targeted Total Depth (\"TD\") of 18,247 ft representing the total vertical and horizontal distance drilled in the well. The Company will update the market of significant milestones throughout this process. \n \nHighlands will shortly upload photographs of the drilling rig and location under a new \"Media\" page on the Company's website.\n \nHighlights:\n· Wildhorse well spud on 10 August, and will drill and set surface casing to ~2,100 feet\n·&...