(MENAFN- Baystreet.ca) PetroTal Corp. (TSX-Venture:TAL) made noticeable gains Wednesday, on providing their investors with an update in respect of its operations and production at the Bretaña field in Block 95 in Peru, a facility including a water disposal well.
On completion of the well known as the 2WD, PetroTal then converted the existing water disposal well ("BN 95-1W") into an oil producer, renamed the BN 95-1, a well with an initial production rate of 2,700 barrels of oil per day (BOPD), way ahead of management expectations
The Houston-based PetroTal, which also has headquarters in Calgary,has completed a new water disposal well, BN 95-2WD, and proved injection capacity, thus allowing the Company to re-complete BN 95-1W and make it an oil producer, BN 95-1. Management expected the BN 95-1 to deliver initial uplift of 1,500-2,000 BOPD.
Shares acquired three cents, or 12.8%, to 26.5 cents, on volume of 856,000 shares.
MENAFN2108201902120000ID1098909790
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.