logo-loader
EnergyOil & Gas
Zenith Energy Ltd

Zenith Energy pulls extra barrels out of the hat

Continued flow testing of the well recorded a production rate of 285 barrels of oil per day (bopd), a significant upgrade from the initial testing of 100 bopd announced last week

Zenith Energy Ltd - Zenith Energy pulls extra barrels out of the hat
It is still far from the 700 bopd target based on production at an adjacent well

Zenith Energy Ltd (LON:ZEN) (CVE:ZEE) has updated the well results at the Jafarli oilfield in Azerbaijan, where it started operations in August.

Continued flow testing of the well recorded a production rate of 285 barrels of oil per day (bopd), a significant upgrade from the initial testing of 100 bopd announced last week.

READ: Zenith Energy disappoints with Azerbaijan well results

It is still far from the 700 bopd target based on production at an adjacent well.

The C-37 well was drilled at a total depth of 4,350 metres, encountering three layers of oil and gas shows for total pay of 16 metres.

Zenith Energy was contacted for comment.

Shares were up 35.20% to 3.21p in the early afternoon.

Quick facts: Zenith Energy Ltd

Price: 0.605 AUD

Market: ASX
Market Cap: $90.38 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

American Resources Corporation's CEO sees massive infrastructure demand out...

American Resources Corporation's (NASDAQ:AREC) CEO Mark Jensen tells Proactive that the producer of metallurgical coal used for the steel industry sees massive incremental infrastructure demand out of international markets, including India. Jensen says to fuel this demand, the Indiana-based...

2 days, 15 hours ago

2 min read