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Fox-Davies Capital Tuesday Energy and Mining News Wrap

6th Jan 2009, 9:00 am Fox-Davies Capital Tuesday Energy and Mining News Wrap
Enegi Oil provides a drilling program update on the Garden Hill South prospect, highlighting that PAP#1-ST#3 well produced 460 barrels of oil and natural gas of 236 barrels of oil equivalent under highly choked conditions. The well has been brought on line for clean up prior to undertaking a flow test and it is expected that the company will then undertake a flow test without choking back the well which should be completed in late January with the results to be announced shortly thereafter. Following the flow test, the company expects to move the well into production.
 
Comment: Although a stabilized flow test is pending, this is encouraging news for Enegi’s Garden Hill South onshore discovery which could provide momentum in the near term as the company anticipates moving into production following completion of a non choked flow test.
 

Minco announced additional results from drilling at Pallas Green, Co. Limerick, Ireland where drilling continues to yield very encouraging results, extending  the known zone of  mineralization at Tobermalug  for a total  distance of  3.2 kilometres and which remains open both to the south and to the  northwest.
 
Comment: These results are very encouraging. Both the lead and zinc grades are attractive, (zinc grades are between 5.6% and 18.6%) and the widths are mineable although at around 400m it is quite deep.

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