Polyard Petroleum said it has completed testing of a well in the Philippines.
The company said the move comes after the Polyard-3 well was spudded in May.
Testing has indicated the main target intervals attained a steady oil production of 235.3 barrels per day and gas production of 9,022 cubic metres per day.
The well will now be turned into a production well and will commence production in the short-term.
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