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Northbridge Industrial Services Plc

Santos encounters traces of oil at second Dorado appraisal well

The well, spudded late in July using the Noble Tom Prosser jack-up rig, and designed to appraise the original Dorado oil discovery, has a final target depth of 4575 meters.

According to the latest update from Wednesday, as at 6:00 am (local time) Wednesday morning, the well was drilling ahead in 8-1/2” hole size at a depth of approximately 4,357 meters MD.

Carnarvon, Santos’ partner in the field, said Wednesday that increased resistivity observed from Logging While Drilling tools indicated porous and permeable zones with indications of hydrocarbons as anticipated in the Caley and Baxter Members.

Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.