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President Energy hails gas pay from Argentina well
StockMarketWire.com
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Oil company President Energy said electric and mud logs had confirmed pre-drill expectations of gas pay at well in Argentina.
Gas pay from the LB-1002 well at the Las Bases field in Rio Negro Province was confirmed in the Centenario formation with good permeability and porosity.
The drilling rig was now moving off location to the next well, EV-1001 at the Estancia Vieja field, which would take five-to-six days, with spudding currently projected in around 10 days.
LB-1002 would now be completed with a coiled tubing unit, with production slated to commence by the end of April.
At 9:30am: (LON:PPC) President Energy Plc share price was 0p at 1.63p
Story provided by StockMarketWire.com
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