IN BRIEF: President Energy puts old well back into production

Thu, 16th Jun 2022 15:14

President Energy PLC - Leeds-based oil & gas company focused on Latin America - Says well PG13-1 is now successfully in production, producing over 200 barrels of oil per day. Well PE-8, which has not flowed oil for many years, is worked over and is now in production. Well PE-8 produces at 10 barrels of oil per day. Notes increase in domestic crude sales, with prices currently at USD66 per barrel - an increase of 12% against the start of the year.

Current stock price: 1.50 pence, down 3.6% on Thursday afternoon in London

12-month change: down 8.8%

By Heather Rydings; heatherrydings@alliancenews.com

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