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Energean Oil and Gas achieves first oil at Epsilon

“Energean will continue to monitor and fine-tune production parameters to ensure optimal production from the well,” it said
oil and gas operations
The well was flowing in excess of 1,000 bopd

Energean Oil and Gas plc (LON:ENOG) today announced ‘first oil’ from the EA-H3 well at the Epsilon field, offshore Greece.

The Israel and Mediterranean-focused group told investors that it had successfully completed the well.

READ: Energean Oil and Gas reveals start of well drilling campaign offshore Israel

It was brought into production on April 1 and is now flowing at a rate in excess of 1,000 barrels of oil per day on a restricted choke.

The company added that the well, drilled down to a depth of 5,679 metres, penetrated some 689 metres in the Epsilon sandstone reservoir, in line with pre-drill expectations.

“Energean will continue to monitor and fine-tune production parameters to ensure optimal production from the well,” it said.

Epsilon is a satellite of the Prinos field, some four kilometres away, and, the field development plan envisages the drilling of up to nine wells.

In London, Energean shares were up 16p or 2% to trade at 784p.

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