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Incremental Oil and Gas eyes sixth commercial oil and gas producing well in California


Incremental Oil and Gas (ASX: IOG) has spud and drilled its sixth and final well, Smoot 6, to a planned depth of 609.6 metres (2000 feet) with preliminary indications that all six of the Californian wells will be commercial producers.

Good to excellent mudlog shows with visible oil on the mud, strong fluorescence and elevated gas readings were encountered in the objective sections between 368.8 metres (1210 feet) and 455.7 metres (1495 feet).

While Incremental is still waiting on detailed log analysis, a number of prospective zones, which are individually as much as 15.2 metres (50 feet) thick, are being evaluated.

Wireline logging is being finalised after which casing will be run to total depth and the rig will be released.

Incremental plans to bring both Smoot 5 and 6 onto production in the coming weeks.

Last month the company announced Smoot 5 is estimated to contain more than 30 metres (100 feet) of net oil pay in the two shallowest reservoirs that were the main objective of this vertical well.

Smoot 6 is the last of Incremental’s 2011 six well program at its wholly owned Round Mountain project.

The project is located in a known producing field and covers over 760 hectares, with around 110 million barrels having already been extracted.

The company has drilled horizontal, inclined and vertical wells and targeted all three prospective reservoirs in the field.

Quick facts: Eon NRG Ltd

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Market: ASX
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