Eon NRG Limited

03/01/2020

As we head into 2020, there is lots to look forward to in the energy sector. Is oil the counter-cyclical investment opportunity that gold was a couple of years ago when Au was unloved? Being the worlds most traded commodity, it is difficult to predict how all of the moving parts (supply, demand, geopolitics, technology, etc) will react as the new decade unfolds.

11/12/2019

After reaching total depth of our first Powder River Basin (Wyoming) well at the end of November, we are looking forward to getting equipment on site to carry out completion and flow tests. Oil will be produced from the Dakota Formation which has around 14 feet of net pay (top at 6,322 feet - 1,927 meters). This is a conventional well which is expected to have a shallow decline as a result of the associated water drive. An update on progress will be provided to the market soon.

06/12/2019

Eon NRG is ticking all the right boxes with its first spudded oil well in Wyoming and now looks set to enter the US energy market as a producer.

05/12/2019

Schlumberger wire-line log results indicate 21' of net oil pay in the Dakota and Muddy Formations in our recently drilled Govt Kaehne 9-29 well in Powder River Basin, Wyoming. The completion phase is under way with first production expected in January 2020. This is the first well that has been drilled by Eon NRG in its expansive acreage holding in the Powder River Basin. Targeting of more conventional well opportunities will provide the company with a strong business model to deliver value through production and reserve growth.

See more details at http://www.eonnrg.com/site/PDF/2077_2/LogAnalysisConfirmsOilPayinFirstPRBWell

04/12/2019

Eon NRG Limited (“Eon” or the “Company”) has announced that it has completed drilling of the Govt Kaehne 9-29 well and
initial indications are that an excellent quality reservoir has been encountered with good oil shows in both the primary and secondary target formations. The well was targeting oil production from the Dakota Sandstone Formation with a secondary formation being the shallower Muddy Sandstone Formation. Schlumberger wire-line logs were run for further petrophysical analysis and insight into potential pay zones within the Dakota and Muddy formations as both formations are present and productive within the field.

Schlumberger calculations show a total of 21’ of net pay in the 9-29 well. The Dakota formation has 14’ of net pay beginning at 6,322', while the Muddy formation shows 7’ of net pay beginning at 6,068'. Good to excellent oil shows and gas shows exceeding 1,000+ units in each of the formations further support the presence of producible hydrocarbons within each of the formations.

The interpreted oil column is deeper than the inferred original oil-water contact for the Field, suggesting that this area of the Field is in a separate compartment and could even be at virgin pressure. Porosity within the Dakota varies throughout with Neutron-Density cross-plots showing 15-18% porosity throughout. Porosity in the best Muddy section exceeds 20% porosity. Micro-log interpretation shows good horizontal permeability throughout the Dakota and Muddy.

04/12/2019

Action from the floor of the Capstar #311 rig, Powder River Basin, Wyoming

29/11/2019

29/11/2019

Drilling of the Govt Kaehne 9-29 well was successfully completed yesterday. This was two days ahead of schedule which brings forward production and reduces drilling cost. Testing is currently under way. This will be followed by completion and then on to production which will add to Eon's already strong production.



This is an article from the West Australian Newspaper today.

Early indications are good for energy player Eon NRG as it hits initial targets during the spudding of its first onshore oil well in the USA.

26/11/2019

Drilling progress report due out from the company this week, 7 days since the Govt Kaehne well was spud. 12 days drilling to total depth followed by testing and completion.

21/11/2019

News of the Company's new well in the Wyoming is making the news.

Emerging oil producer Eon NRG has spudded its first onshore well in the US state of Wyoming as it looks to become an active energy player.

21/11/2019

Govt Kaehne 9-29 well started drilling this week. 12 days to reach total depth followed by testing and production.