Chalk Talk27 Mar 2026 08:01
London, 14 November 2023 - Pennpetro Energy PLC (LSE: PPP), an independent oil and gas company focusing on development and production in the Peach Creek (Austin Chalk) Oil Field in Gonzales County, Texas, USA, advises that the Company's 100% Chalk Talk #1H ("CT1H") well has completed its first full week of test production, since the workover rig demobilized from the well site and the sites were fully commissioned, with a total of 794 barrels of 33 API oil for an average of 113 barrels of oil per day ("bopd").
Current production levels are significantly above the well's July 2022 shut in rate of around 15-20 bopd. This increase can be put down to the workover rig successfully cleaning out a number of bridge plugs (or blockages) below the bottom of the casing.