EDR / EOG / UJO - Wressle-1 progress

By Richard Mason


Today an enterprising stock market investor visited the Wressle-1 site to see for himself what his hard earned investment was being spent on. The pictures speak volumes evidently showing a hive of activity, a Drilling/Well testing company are onsite and very much going about their business progressing the known discovery. Wressle-1 encountered three intervals of hydrocarbon pay which was announced back in September 2014. Egd​​on Resources, the operator, were clear about their findings which has led to testing the discovery to prove its commercial viability.

Preliminary petrophysical evaluation of the log data has indicated the presence of potential hydrocarbon pay in three main intervals;

  • Penistone Flags – up to 19.8 metres measured thickness (15.9 metres vertical thickness)

  • Wingfield Flags – up to 5.64 metres measured thickness (5.1 metres vertical thickness)

  • Ashover Grit – up to 6.1 metres measured thickness (5.8 metres vertical thickness)

We at ValueTheMarkets are pleased to bring exclusive images from the Wressle-1 discovery and very much look forward to hearing the results as they break. In such cases we anticipate progress reports followed by further final analysis. Nothing is certain when drilling wells and you cannot pluck feathers from a frog, however we believe the initial results reported gives the Wressle-1 discovery an encouraging chance of secreting hydrocarbons from at least one of its encountered zones.

(The images in this article were taken 14/01/2015 ValueTheMarkets does not hold the copyright but published with permission)

Author: Richard Mason

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

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