7th Aug 2019 12:02
(Alliance News) - Reabold Resources PLC said Wednesday an appraisal well on a minority-owned onshore Romanian oil & gas project has been spudded by the operator.
Reabold said operator ADX Energy Ltd announced the Iecea Mica-1 well in Parta was spudded on Tuesday morning. Reabold holds a 38% interest in Danube Petroleum, which itself owns a 50% interest in the Parta licence.
"The first target reservoir intersection is expected in approximately 13 days and the total time to drill and evaluate the well is expected to be approximately 27 days following spud," Reabold said in a statement.
Shares in Reabold were 3.0% lower at 1.19 pence in London on Wednesday.
Related Shares:
Reabold Resources