- President Energy said oil had successfully flowed during testing operations from the second well at its prospects at Rio Negro province in Argentina.

The so-called PFE 1001 well tested at 400 barrels of oil per day from the primary target, which was double initial expectations, the company said.

The secondary target, having also successfully flowed oil, had been isolated and kept in reserve to produce at a future date.

Drilling of the third and final well in the 2018 series, PF0 1005, was proceeding as planned, President Energy said.

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