RE: Worst share on AIM by a country mile29 Oct 2020 15:48
RNS 09/03/2020
Price 0.60ish
"Such water shut-off operations are routinely undertaken in production wells. However, success, particularly in horizontal wellbores and where water ingress is via open natural fractures, is by no means guaranteed. Consequently, this is an excellent result for the Company as it has enabled HH-2z to flow dry oil to surface at encouraging initial rates. Our operations team deserves tremendous credit for this successful outcome."
Billions of share dilution and SS wages later
RNS 30/06/2020
Price 0.27ish
The plug was initially successful in returning flow to the reported high oil cut, however water cut built up, necessitating the well to be produced intermittently as the water disposal costs outweighed oil revenues.