Jadestone Issues Oil Well Update Following Cyclone

Asia-focused oil and gas company Jadestone Energy (TSXV:JSE,LSE:JSE) has released an update on the drilling of the 49-H infill well at Stag oilfield.

As quoted from the press release:

Following the weakening of tropical cyclone Veronica, personnel have safely returned to the field and have undertaken a thorough inspection of the facilities. Drilling operations with the Ensco 107 jack-up rig have now recommenced on well 49-H. The donor well Stag 14-H has been re-entered and cleaned out, inner casing has been cut and retrieved, and new well activities are underway.

The Stag 49-H well will take approximately 34 days to drill, and is targeting approximately 1.2mmbbls of unswept 2P oil reserves in a higher-pressure area of the Stag oilfield, just west of the platform.

Click here to read the full announcement