Good RNS20 Sep 2019 10:02
At last a RNS we can actually be pleased with. So we are seeking compensation, "In conjunction with Geoenergo, our joint venture partner in Petišovci, we will be seeking full compensation for such actions through the Courts and otherwise".
Also confident we can and will continue with the current asset. "being unable to work in the tighter gas reservoirs has, however, led us to study other options for producing from the wider concession at Petišovci which would not involve hydraulic stimulation. During the period, we commissioned a report from the reprocessing of the data from a 3D seismic survey to establish what other conventional oil and gas reservoirs we could target within the large Petišovci license that covers 3,592 hectares and contains some 148 historical well site locations drilled since the 1940's. We have now received this report and our initial interpretation of it is highly encouraging and, over the next 6 weeks or so and together with our partner Geoenergo, we will be evaluating and prioritising potential shallow conventional oil and gas targets and associated well site locations."