Reprocessing the seismic data will additionally classify the conclusion of natural gas traps and a following run of 2D seismic lines that may be required to decisively make sure an optimal drill site selection. Fully defining the gas trap closures is an efficient move towards heightening the overall possibility of success and must be concluded prior to the beginning of drill site preparations. PrimeGen Energy anticipates receiving an AFE (Authority for Expenditure) from the operator in the near future for the applicable costs.
The company is convinced that the target location provides a high possibility of drilling successful and commercially feasible gas wells and looks forward to put into practice its plans for expansion in a timely and resourceful manner. In addition to this the analog gas production from nearby wells in the area produces about 3,000 Mcf per day, PrimeGen Energy logically expects to be in positive cash flow before the fall of 2009.
