DRILLING

Stuart dives as Bazzard hits water

SHARES in Stuart Petroleum plunged 21% to $1.065 yesterday after the company reported the first interval targeted by its maiden Bazzard-1 offshore well in Gippsland permit VIC/P53 was water-saturated.

Stuart dives as Bazzard hits water

The company had said that while minor shows were observed in the 54-5 interval in the Intra-Latrobe section, the surrounding sands were interpreted as water saturated. Stuart reported today the 62 interval...

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