Enegi oil flowing again
Enegi Oil (LSE: ENEG), the Manchester-based exploration company, today said operations had restarted at its PaP#1-ST#3 well at Garden Hill South in Newfoundland. It said the well had an initial flow at between 580 to 600 barrels of oil per day plus associated gas on a 32/64th choke.
Chief executive, Alan Minty, said: “We are delighted that the well is now flowing, albeit on an interval basis. With the continued development programme that we are planning we believe that the well’s full potential will soon be realised.
The Enegi Oil CEO also said “In addition to developing Garden Hill South, we are continuing to implement our plans to de-risk and add value to the other assets in our portfolio. The coming months will be an exciting time for the company.”
Read into that what you will. Sounds promising?
Virgin
