Novus said its joint venture partners in the well intend to hook the discovery into the local gas supply grid. "Given the proximity to infrastructure and the vibrant local gas market, Novus is confident that commercial production will be achieved from this well, even just from the net pay of 10 feet so far encountered," Novus Managing Director Bob Williams said in a statement.
The well is expected to continue drilling toward its main objective a further 350 metres deeper into sands. Novus plans to start drilling a second well on Padre Island in early February.
Novus has a 30% stake in the Padre Island lease, which is operated by U.S.-based BNP Petroleum Corp with a 25% stake. Other parties involved in the are Mitsui & Co (15%), KCS Resources Inc (20%) and Golden Gate Resources Ltd (10%).
