23rd Dec 2021 13:50
President Energy PLC - Leeds-based oil and gas company - Says drilling of its DP-2003 well has reached the target depth of 3,228 metres with encouraging mud log data. The company adds that electric logging results are expected before the new year. Following the results, a well will then be cased and a rig will move adjacent to drill the next well, DP-2002. On current estimations, this is projected to spud by mid-January, President Energy says.
Current stock price: 2.27 pence, up 7.0% in London.
Year-to-date change: up 26%
By Heather Rydings; [email protected]
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