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Pin to quick picksEnergean Oil & Gas Share News (ENOG)

Share Price Information for Energean Oil & Gas (ENOG)

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Share Price: 1,145.00
Bid: 1,145.00
Ask: 1,147.00
Change: 9.00 (0.79%)
Spread: 2.00 (0.175%)
Open: 1,148.00
High: 1,148.00
Low: 1,135.00
Prev. Close: 1,136.00
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Energean's Karish North Sees Best Estimate Boosted By Almost A Third

Thu, 09th Apr 2020 09:51

(Alliance News) - FTSE 250-listed Energean Oil & Gas PLC on Thursday hailed the findings from a competent persons report at its Karish North offshore asset in Israel.

The report lifted the project's best estimate by 32% to 1.2 trillion cubic feet of gas and 39 million barrels of liquids.

Chief Executive Mathios Rigas said: "I am delighted that 2C resources at Karish North are some 32% ahead of where we had initially expected."

The report was compiled by petroleum consultants DeGolyer & MacNaughton.

Energean added: "D&M's estimates are based on the results of the Karish North exploration and appraisal campaigns that were completed in 2019, coupled with an analysis of the recently re-processed and re-calibrated 3D seismic. The uplift in resource volumes largely results from the new conclusion that the Karish East structure is a part of the Karish North and Karish North-East structures, which were included in Energean's original resource estimates."

Shares in the company were 2.8% higher at 770.00 pence each in London on Thursday morning.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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