Article: 1600bpd potential for GLE.AOk, this is not based on GLE.A, BUT its on Lundin Petroleum, another company that drilled in the same basin and they hit 1600bpd per day. Thats pretty good, enough to even get a large O/S play like GLE.A to 15-20 cents easily.
Link --->
https://www.lundin-petroleum.com/Press/pr_france_02-08-04_e.html
LUNDIN PETROLEUM: OIL DISCOVERY IN THE ACQUITAINE BASIN
LundinPetroleum AB (Lundin Petroleum), through its wholly owned subsidiaryLundin Gascogne is pleased to announce that the exploration well SouthMimosa-1 has successfully tested an average rate of over 1600 barrelsof oil per day (bopd) of 36 degree API oil from the Purbeckiansandstone reservoir. No water was produced during testing operations.
The South Mimosa-1 discovery is located close to existing productionfacilities and the forward plan calls for a fast track developmentincluding the completion of the existing discovery into a productionwell. Further evaluation of the discovery will be required to definethe final development of the Les Mimosas field. The South Mimosa-1discovery is included in the Lege Exploration permit, onshore France inthe Aquitaine Basin which also contains the producing Les Pins,Courbey, Les Arbousier and Tamaris fields currently producing 2800bopd, gross.
The operator of the Lege Exploration permit is Esso Rep (50% workinginterest) with partner Lundin Petroleum with the remaining 50% interest.
Ashley Heppenstall President and CEO, Lundin Petroleum comments as follows: “Thisnew discovery in the Aquitaine Basin is excellent news for LundinPetroleum particularly as it is close to existing infrastructure. Webelieve our Aquitaine Basin assets have excellent potential forproduction growth from the ongoing development drilling program andfrom the commercialisation of exploration successes.”
LundinPetroleum is a Swedish independent oil and gas exploration andproduction company with a well balanced portfolio of world-class assetsin France, Indonesia, Iran, Ireland, Netherlands, Norway, Sudan,Tunisia, UK, Venezuela and Albania. The Company is listed on the O-listat Stockholmsbörsen, Sweden (ticker “LUPE”).
For further information, please contact:
C. Ashley Heppenstall,
President and CEO
Tel: +41 22 319 66 00
or
Maria Hamilton
Head of Corporate Communications
Tel:+46 8 440 54 50
ANOTHER GOOD ARTICLE TO LOOK AT :
https://www3.interscience.wiley.com/journal/119953000/abstract