The Ensign Rig 587 is currently mobilising to the drill site and will commence operations shortly. The well is planned to a total, measured depth of approximately 1,700 metres (5,600 feet) with drilling operations expected to take less than one month to complete. The Tulainyo joint venture includes operator California Resources Production Corporation, a subsidiary of a NYSE-listed company that is one of California’s largest oil and gas production companies and Cirque Resources LP, a private company based in Denver, Colorado.

Commenting on the new drilling program, Pancontinental CEO John Begg said: “It’s an exciting period of activity for Pancontinental. We are already underway with a flow testing program at the Dempsey-1 gas discovery for which we have high expectations. Now we are set to evaluate the potentially very large Tulainyo Gas Discovery. Both projects are in the Sacramento Gas Basin, California and we are partnered with very capable operators. The projects are located near extensive gas reticulation infrastructure and there is a ready market for any gas we prove up.”