Echelon Resources Limited announcement overview

Echelon Resources Limited (ASX: $ECH) has concluded the drilling of the Booth-1 well in the Perth Basin. The well, operated by Triangle (ASX: $TEG), reached a total depth of 2,812m MD on 7th August 2024. Despite drilling through key prospective reservoirs, including Cattamarra, Dongara, and Kingia, no moveable hydrocarbons were intersected. Echelon CEO, Andrew Jefferies, expressed gratitude towards the involved parties and shared plans to focus on the independent shallower Becos prospect in EP437.

Echelon CEO, Andrew Jefferies, remarks on Booth-1 well drilling outcome

Echelon CEO, Andrew Jefferies, stated, 'No cigar, a well drilled well, safe, under time and I'd expect under budget, but not the success we all fervently hoped for. Nature has clearly answered. It was a good area, good structure, just no hydrocarbons. I wish the team well with the final operations and demobilisation of the rig. I look forward to working with the JV to get after the independent shallower Becos prospect across in EP437 in the next wee while.'

Summary of Echelon Resources Limited's Booth-1 well drilling outcome

Echelon Resources Limited (ASX: $ECH) has completed the Booth-1 well drilling in the Perth Basin, revealing no moveable hydrocarbons despite reaching the total depth of 2,812m MD. The company expressed appreciation for the efforts of the involved parties and outlined plans to shift focus towards the independent shallower Becos prospect in EP437. Echelon's commitment to ethical exploration and production activities, along with its emphasis on strong ESG standards, continues to guide its operations and strategic direction.