Last checked at 
Reabold Resources PLC - oil & gas projects focused investor - ADX Energy Ltd has started contracting the services needed to undertake acidisation and flow testing of the Iecea Mica-1 well in Romania. The approximate cost of the programme is EUR230,000, which will be paid by Danube Petroleum Ltd, which has a 100% interest in the Parta Sole Risk Area. Reabold holds a 51% equity interest in Danube. The objectives of the acidisation and testing programme are to initiate flow by overcoming expected mud filtrate build up which is seen as preventing flow from the well, determine reservoir fluid composition and the flow capacity of the PA IV reservoir. The testing programme will confirm the suitability of the gas composition for commercial sales.
Current stock price: 0.59 pence
Year-to-date change: down 21%
By Greg Roxburgh; gregroxburgh@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
