RE: Good sign14 May 2021 11:51
Production volumes for the three months ended 31 March 2021 decreased by 220 boe/d (9%) to 2,097 boe/d (2020 - 2,317 boe/d). The Company's production volumes declined due to natural well declines, partially offset by the addition of the M-1008 well and other workover programs.
Romania's production volumes decreased by 251 boe/d (14%) to 1,495 boe/d (2020 - 1,746 boe/d). This was primarily due to natural well declines, and partially offset from additional production from the M-1008 development well, which was brought into production during the quarter. The Company commenced a compression program which is anticipated to stabilize and extend production from existing wells.