() expects to bring the fourth newly drilled well on production in the next two weeks.
The company confirmed three wells, drilled in a recent drill programme, began production testing just before the end of 2013, as expected.
These wells are producing around 175 barrels of oil per day, though the company reminded investors that typically this sort of production – termed CHOPS, Cold Heavy Oil Production with Sand – takes an extended period of time to “clean up” and stabilise.
"We are excited at the prospect of these wells adding to the production and reserves of the company and are looking forward to getting them cleaned up and fully on-stream," said chief executive Brad Nichol.
will present at Proactive Investors One2One Investor Forum this Thursday at Chesterfield Mayfair Hotel, London