Panoro Energy's Nigerian wells set to be connected to production facilities
First drilled in 2008, the Aje-4 well was declared by company officials as a successfully completed oil production well. The firm previously reported completion of the Aje-5 well.
Both wells are being prepared for connection to oil production facilities.
“We are very pleased to have now successfully concluded the well-operations phase of the Aje Cenomanian oil development and are encouraged with the reported well results," Panoro CEO John Hamilton said. "We have achieved a major milestone to de-risk the project and are looking forward to starting commercial production toward the end of January 2016, following which we can begin generating positive cash flow."
Panoro also holds assets in Gabon via the Dussafu License offshore southern Gabon. Oil has been found on both of the company's West African properties; approved field-development plans are in place.
For more information, visit www.panoroenergy.com.