Mosman Oil and Gas Ltd (AIM:MSMN) has confirmed a significant increase in reserves at the Cinnabar project, in Texas, where it recently drilled a well.
The company, in a statement, said that following the successful development drilling of and production from the Cinnabar-1 well it has updated the field’s reserves report, resulting in a 78% increase in proved volumes.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) is seeing “operational success” on the Tapir Block in the Llanos Basin of Colombia, according to analysts at Canaccord Genuity (TSX:CF, LSE:CF).
The energy firm reported earlier that its second well in the company's 2023 drilling programme at the Rio Cravo Este field (RCE) on the Tapir licence reached total depth (TD) at 8,053 feet true vertical depth (TVD).
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) has provided an update on the drilling activity at Rio Cravo Este (RCE) oil field on the Tapir Block in the Llanos Basin of Colombia, noting that the RCE-4 well was spud on March 1, 2023, and reached total depth on March 8, 2023.
In a statement, Marshall Abbott, CEO of Arrow commented: "RCE-4 was drilled quicker than any other well on the Rio Cravo structure to date. The team's growing experience with the play is resulting in more efficient operations and lower costs. The log results of RCE-4 are in line with our expectations for the well. This is the fifth well drilled by Arrow on the Tapir block and it has confirmed the continuity of oil-bearing intervals seen in adjacent wells.