8th Apr 2019 08:10
LONDON (Alliance News) - Energean Oil & Gas PLC is producing over 1,000 barrels of oil a day from the Epsilon project after completing drilling.
Energean has drilled to 5,679 metres at the EA-H3 well, penetrating 689 metres of the Epsilon sandstone reservoir, meeting pre-drill expectations.
The Epsilon project is in Greece, but Energean's flagship asset is the Karish Tanin gas field offshore Israel, from which it hopes to start producing in 2021.
Shares were 2.3% higher in early trade Monday in London at 785.71 pence each.
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