Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) told investors that its third horizontal well, CNB HZ-4 at the Carrizales Norte project’s B pad, has flowed in excess of 2,500 barrels of oil per day.
The well was spudded in late July 28, reached its target depth in early August and has entered production.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) told investors that initial site operations have begun for the Salt Wash helium project’s commitment well.
This initial work includes the preparation of the drilling pad and fencing of the site perimeter.
HeLIX Exploration PLC (AIM:HEX) said it encountered helium in all target strata of the Ingomar Dome project's Clink #1 well, after completing drilling activities ahead of schedule and below budget.
Elevated helium levels were detected in the sedimentary column, it added, as drilling reached the target depth of 8,030 feet, with significant hydrogen concentrations also observed in the Cambrian strata.
Sunda Energy PLC (AIM:SNDA) said it has submitted applications for two offshore licence areas in the Philippines where several gas discoveries have been made and where it sees "significant" upside potential.
The applications have been made in a joint venture partnership with three other companies that would give the AIM-listed company a potential 37.5% non-operated interest.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) is moving closer to 'commerciality' following the latest well test and an acquisition that should speed its progress to generating cash.
Panmure Liberum lauded the $6.75 million purchase of a 50% working interest in the Galactica Pegasus Helium Project in Colorado, which could be in production by the middle of next year.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) provided a positive update on an extended test of its Itumbula West-1 well in Tanzania alongside a significant acquisition that broadens the group's geographic footprint - and, crucially, provides the prospect of near-term cash flow.
The exploration group successfully flowed helium in concentrations of up to 7.6% at an average of 786 barrels per day from Itumbula's faulted Karoo interval.