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Additional News in English | Još vesti na Srpskom | Επιπλέον ειδήσεις στα Ελληνικά |  |
Text |  |
Stream Oil increased production 45% by taking full control of Albanian wells in the Cakran-Mollaj oilfield and the Usoja Treatment facility
Michael Roberts - 19.03.2010
Stream Oil & Gas Ltd. announced that in line with its Plans of Development, it was given the approval from the Albanian authorities to take full control of all wells in the Cakran-Mollaj oilfield and the Usoja Treatment facility, as of March 22, 2010.
As a result of this take over and corresponding production optimization control, the Company's daily gross crude oil production has increased to 683 bopd from 470 bopd (net 310 bopd from 236 bopd) or a 45% growth. These figures do not include Company's typical gas production of 690 MCFD and 47 bbl/MMCF NGLs.
Dr. Sotirios Kapotas, Stream's CEO said: "After the recent fund raising the Company is aggressively implementing its Development Plans with rehabilitation work already taking place in the Cakran-Mollaj oilfield. We expect positive results from this shortly and we are confident of further substantial production increases in the future."
Stream Oil and Gas
Related News in English |
Povezane vesti na srpskom |
Συναφείς Ειδήσεις στα Ελληνικά |