The well was drilled to a total depth of 6,323 feet into the basement volcanic rocks. LEA #1 encountered a number of gas bearing horizons and 7" casing has been run and cemented. Linc said this will allow technical teams to plan a testing program to evaluate the potential for commercial gas production from the prospect.
A number of significant coal seams were encountered as expected. Coal is recognized as the source rock for all the gas discovered and produced from the prolific Tyonek, Beluga and Sterling formations in the Cook Inlet Basin.
light of the fact that Linc Energy took over these Leases in June, it is an exceptional result that by October, our team planned and permitted a drill site, built the pad, contracted the rig and spudded the LEA #1 well. The safe completion of the well to depth, within budget and time is also a fantastic outcome. It will now take our team about a month to conduct the relevant tests upon LEA #1 to define a commercial outcome. I am very excited about the opportunity that Alaska offers, particularly for the potential for early cashflow to Linc Energy.—Linc Energy CEO Peter Bond