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Article: SHARES IN AUSTRALIA'S AMITY OIL FALL AFTER DRILL PIPE PROBLEM.
- Article from:
- AsiaPulse News
- Article date:
- January 2, 2004
CopyrightCOPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PERTH, Jan 2 Asia Pulse - Amity Oil Ltd (ASX:AYO) shares lost ground today after it anounced it was attempting to recover a stuck drill pipe at the Whicher Range 5 well.
The Perth-based oil and gas company said a pipe had become stuck during air drilling between 4061 metres and 4112 metres deep at the Whicher Range 5 well off Western Australia.
"Excess torque was felt on the bit while preparing for a connection of a new segment of drill pipe," Amity said.
"Assuming the hole had caved in, attempts were made to pull the drill string back to the casing shoe. ...