RE: RNS out5 Feb 2021 07:08
"The Company confirms it remains in direct negotiations with the Republic of Slovenia with a view to potentially settling the claim in an amicable manner in the short term, as previously announced on 22 October 2020. All such negotiations are being carried out on a strictly confidential, without prejudice and privileged basis. The Company will provide further updates as appropriate.
Operational Update
The Company also announces that PG-11A, one of its two development wells on the Petišovci tight gas field has now been put back into production.
Following recent increases in local gas prices (some 175% up from mid 2020 levels of circa €7 per MWh) and a recently observed pressure anomaly building up in the annulus and tubing at PG-11A, the JV partner has put the well back into production with a view to accreting additional JV revenues and to enable an evaluation of the source of the pressure anomaly and remedial action. The well has begun flowing on the 4 February with an initial production rate equivalent to circa 12,000 scm/d and will be monitored over the course of the next week for a stabilised production rate. The second well, PG-10 is currently producing at circa 5,000 scm/d whilst PG-11A had previously been shut in since December 2019."