document: IGas Energy spudded Springs Road-1 exploration well in PEDL 140 on 22 January 2019. The vertical well will be drilled to a depth of approximately 3,500 m through the Bowland Shale and into the Carboniferous Limestone and based on the findings of the first well, it was thought that a possible horizontal well will be drilled in a southern direction through the Bowland Shale. On 15 February 2019 IGas announced that it has encountered shales (including the Bowland Shale) on prognosis at approximately 2,200 m. In a further update from IGas on 11 March 2019 the company announced that it has encountered a hydrocarbon bearing shale sequence of over 250 m with significant gas indications observed throughout the shale section and additionally within sands in the Millstone Grit sequence. The company has recovered 150 m of shale core with petrophysical core analysis ongoing. Following encountering both the primary and secondary targets the company is now drilling its tertiary target, to provide further information on the resource potential for multiple hydrocarbon bearing horizons within the Gainsborough Trough. Â   IGas has drilled a number of boreholes at the site to monitor groundwater. The boreholes were successfully drilled in February 2016, these will enable the company to understand conditions, prior to, during and after operations. If drilling is successful the company will move forward in submitting a subsequent planning application to test and frack the well. PEDL 139 was awarded in the 12th Landward Licensing Round and comprises of one block SK/69. PEDL 140 was awarded under the same licence round and comprises of two blocks â SK/78f and SK/79a. IGas shot a 3D seismic survey over PEDL 139 and PEDL 140 during 2014.   Interest in PEDL 139 is held by IGas subsidiary Island Gas Limited (14.5%), INEOS Upstream Ltd (40%), other IGas subsidiary GP Energy Ltd (17.5%), Egdon Resources UK Ltd (14.5%) and eCORP Oil & Gas UK Ltd (13.5%).
summary: Springs Road 01 (IGas 32%, INEOS 40%, Egdon 14.5%, eCORP O&G 13,5%) the second in a three-well exploratory drilling programme at sites at Tinker Lane and Springs Road in PEDL 140, encountered a hc bearing shale sequence of over 250m, including the upper and lower Bowland shale and significant gas indications were observed throughout the shale section and additionally within sands in the Millstone Grit sequence.