IOG PLC - gas production focused on the UK southern North Sea - Says Blythe well was drilled, cleaned up and flow tested to a maximum gas rate of 45.5 million cubic feet per day. The recoverable volume of gas and initial production rates are in line with earlier estimates. First gas is expected in the fourth quarter. At current gas prices, 2021 to 2022 cash flows are expected to substantially exceed plans.
Current stock price: 31.00 pence
Year-to-date change: up sharply from 13.20 pence
By Ivan Edwards; ivanedwards@alliancenews.com
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