American Noble Gas's initial exploratory well was spudded on May 7 and the company has identified two potential zones with substantial gas and helium reserves. One of the zones of particular interest revealed a gas show across it. The other zone appeared to release gas while drilling indicating that gas reserve potential exists. The Company's first production well has been drilled, logged and production casing set and is currently awaiting completion activities beginning this month. There has been no data released as yet on helium concentrations and potential flow rates to judge commerciality.
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