Austin Exploration announce that drilling operations are underway at the Company’s flagship 100% owned Pathfinder project in Fremont County, Colorado.
The drilling of the Columbus #1 well is the second well of a three well program. The well is being drilled back-to-back following the drilling of the first well in May, the Magellan #1 well that intersected a 790ft column of oil in the Pierre formation (ASX 26 May 2016).
This sequential three well program has been designed to maximise operational efficiencies, significantly reduce costs and maximize production potential.
The Company expects to sequentially flow test the three wells in the third calendar quarter and material updates of the drilling program will be released to the market as they occur.