PetroTal achieves positive flow rates from new well in Peru
StockMarketWire.com - PetroTal said it had achieved a better-than-expected production rate from a new horizontal well at its Bretana oil field in Peru.
The company said it had completed the BN 95-4H horizontal well on time and under budget by around $3.0m using new technology to maximize oil production.
The well's initial four-day production rate of 6,200 barrels of oil per day exceeded management's expectations.
Bretana had reached new record production of over 8,000 barrels of oil per day, with three of five wells now online.
At 9:37am: (LON:PTAL) share price was +1p at 16.75p
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