North American Petroleum (NAP) has seen production from its Shoats Creek Project increase by a third.
The company holds a 35% interest in the area alongside Northcote Energy with 35% and Springer Oil and Gas with 30%.
The Lutcher Well nine well has seen the number of barrels of oil jump from the announced test rate of 86.5 to 115BOE (Barrels of Oil equivalent).
NAP’s managing director, Stefan Olivier, said: “We are delighted with theincrease in production at Shoats Creek.
“These figures further demonstrate the significant potential this project has to offer with impressive production rates delivered from the low-cost workover of existing wells, which is particularly appetising in the current markets.
“With a broadened work programme in the pipeline at Shoats Creek, including the 12 potential re-entry wells, we are excited by the upside the project has to offer.
“I look forward to providing further updates at this exciting time for the Company as we continue all efforts to rapidly grow NAP’s production and reserves.”
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