Australian east coast focused gas company Real Energy Corporation Limited (ASX:RLE) will soon commence drilling at the Venus-1 well. Currently, the Silver City Rig is being mobilised to the Venus 1 well site.
There was a delay in the mobilisation of the Silver City Rig by a few days, owing to wet weather in Queensland. However, spudding will now take place in the next few days. Venus-1 is likely to be drilled to a total depth of 680 metres.
RLE traded at $0.026 on 29 October 2020 (1:10 PM AEST).