StockMarketWire.com - Hurricane Energy said output levels from its Lancaster early production system in the UK were above its expectations.

The company said it had achieve an average production rate of around 14,400 barrels of oil per day, from first oil to latest lifting on 17 August.

To date, 1.2m barrels of crude oil had been sold, it added.

'We are delighted to provide an update on Lancaster EPS progress and to communicate that our production levels have been above expectations for this early phase of operations,' chief executive Robert Trice said.

'However, despite these promising results, we remain cognisant that it will take up to a year to acquire and interpret sufficient performance information to test our reservoir model of the field.'

'Now that we are back to flowing the Lancaster wells through separate flowlines, we look forward to gathering data on individual well performance to help optimise well delivery as well as improve the company's understanding of the reservoir's performance.'


At 3:14pm: [LON:HUR] Hurricane Energy Plc Ord 0.1p share price was -0.74p at 42.98p



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