The Melbourne-based explorer said a review of results from the current core drilling program showed that coals were extensively distributed across PEL 16 and contained “substantially higher” volumes of gas that previously encountered.
Metgasco attributed this occurrence to its practice of coring to depths of around 850m.
The four additional core holes will be half funded by Metgasco and the remainder with the $1 million grant received last month under the Australian Government’s sustainable regions program.
Drilling will start immediately after the current Corella well program is completed by the Stratheden joint venture.
The extended program is expected to help increase gas reserves beyond the current 2P gas reserve target of 660 petajoules.
Meanwhile, Metgasco continues to report encouraging results from the Stratheden joint venture area of PEL 16.
The JV, in which Metgasco holds 85% and CS Energy has 15%, has this week encountered "excellent free gas shows" from the coals intersected by the Corella-E-9 well, drilled to a total depth of 864m.
"A well-developed sequence of Walloon coal measures has been obtained containing approximately 34m of coal," Metgasco said.
As a result, the well has been logged and suspended, awaiting additional testing.