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Solo Oil says Ausable Reef well logs indicate gas shows

Published: 07:33 03 Apr 2012 BST

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Solo Oil (LON:SOLO) said the North Airport-1 well drilled on the Ausable Reef field in Ontario by its joint venture partner has reached a depth of 608 metres, and logs indicate promising hydrocarbon shows.

The group relayed a statement from Reef Resources (CVE:REE), saying the electric logs indicate potential for natural gas in the shallow A2 zone as well as for hydrocarbon in the Guelph formation.

Petrophysical analysis will be initiated immediately to better determine both net pay and production potential, and details of the study will be released when complete.

Any hydrocarbons from North Airport-1 will be used to further enhance the gas recycle and enhanced oil recovery programme at Ausable. 

The well will be connected via pipeline to the standing Airport South natural gas/liquids well currently being tied into the Ausable process facility.

Solo executive director Neil Ritson said: "Success at the Airport North -1 well will provide additional gas reserves to support the Ausable EOR scheme where gas from Airport South and utility gas from the Union Gas pipeline are already being tied in. Ultimate recovery at Ausable depends on pressure maintenance and gas recycling so the availability of further gas sources will be extremely good news."
 
Solo has a 38.1 per cent stake in the Ausable Reef venture, as a result of a loan it made to Reef in April 2010.

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