Georges Bank test wells show oil signs, US says

Two test wells drilled into the Georges Bank at distances of 42 and 89 miles off the coast of Nantucket Island, Mass., have detected promising signs of oil and gas reserves, the Interior Department said Monday. Interior's US Geological Survey said rocks with good characteristics for hydrocarbon reservoirs were encountered in both wells and one penetrated source beds below the 14,000-foot depth which might have generated oil and gas.