Tuesday, July 3, 2012

WestSide Corporation [WCL] - Meridian SeamGas average daily June sales up 53.4% on last year - second new well flowing at 1 million scf/d

Meridian’s average daily June sales up 53.4% on last year as second new well flows at 1 million scf/d

 Meridian SeamGas average daily sales in June of 13.5 TJ/d were up 15.4% on the previous month and 53.4% on June last year (8.8 TJ/d)
 Two of seven new dual-lateral wells have produced gas at rates exceeding 1 million standard cubic feet a day - in total five new wells are now each flowing at greater than 675,000 scf/d.

WestSide Corporation Ltd (ASX Code: WCL) is pleased to advise that Meridian SeamGas achieved average daily gas sales during June of 13.5 TJ/d – up 53.4 per cent on the average for June last year - with a second new dual-lateral well now flowing at more than 1 million scf/d.

June’s average daily sales were also up 15.4 per cent on the average for the previous month of May (11.7 TJ/d), further extending the strong growth trend evident since January 2012.

WestSide CEO Dr Julie Beeby said this excellent upward trend was expected to continue with on-going refurbishment of under-performing existing wells and increasing production from Meridian’s seven new dual-lateral wells and three new up-dip laterals contributing to the ramp up. 

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