Eaglewood to Reach Ubuntu-1 Well Total Depth by February

Canada’s Eaglewood Energy is drilling the Ubuntu-1 well in Papua New Guinea at 1,920m and expects to reach a total depth of 3,600m in early February 2011.

The Ubuntu-1 well is located on Petroleum Prospecting Licence 259, about 17km east of the Ketu and Elevala gas condensate discoveries in Papua New Guinea.

The company’s aim is to drill the remainder of the 12 1 / 4in hole to the base of the Darai Limestone at 2,425m and set the 9 5 / 8in casing.

Eaglewood holds a 40% participating interest in the Ubuntu Area of Petroleum Prospecting Licence 259.