StockMarketWire.com - Energean Oil and Gas said it had achieved first oil from the EA-H3 well with a steady rate of production of more than 1,000 barrels of oil a day.

The well was drilled to a total measured depth of 5,679 meters had has penetrated 689 meters of the Epsilon sandstone reservoir, in line with pre-drill expectations.

Energean said it would continue to monitor and fine-tune production parameters to ensure optimal production from the well.

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