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IN BRIEF: President Energy Notes Encouraging Results From EVN-x1 Well

Mon, 16th Nov 2020 17:30

President Energy PLC - oil & gas company focused on Latin America - Completes EVN-x1 well in Argentina as well as preliminary testing of the lower of the intervals. Testing has been successful, with 36 degree API light oil and associated gas continuously free flowing to surface, with the need to swab or pump.

Preliminary testing has indicated that initial production levels can be expected in line with pre-drill success expectations of 200 barrels of oil per day plus associated gas from the lower interval. Well is expected to be placed in production in the next 14 days.

Current stock price: 1.62 pence

Year-to-date change: down 46%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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