Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Real Energy Corporation Reveals More Gas Shows

Real Energy Corporation (ASX:RLE) continues to intersect gas shows at Queenscliff-1 well in the Queensland Copper-Eromanga Basin.

Queenscliff-1 in ATP 927P is being drilled to confirm the presence of basin centred gas and determine reservoir productivity.

Since the last report, the well was drilled from 3028 metres to 3084 metres in the Patchawarra Formation when drilling was halted for repairs on the top drive system.

This has since been completed and drilling towards the planned total depth of 3,200 metres is expected to resume later today.

Queenscliff-1 follows the Tamarama-1 well that intersected 87 metres of strong net gas pay in the target Toolachee and Patchawarra formations.

An independent geologist has estimated that the Permian section in ATP927P and ATP917P contains 10.2 trillion cubic feet of in-place gas.

Drilling Results

Drilling in the Toolachee Formation has intersected a gas peak of 1253 units over the background gas of 70 units.

In the Patchawarra Formation, a gas peak of 277 units over the background gas of 70 units was noted.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.