StockMarketWire.com - Energean Oil and Gas said an appraisal of its Karish North discovery confirmed in place volumes at the top half of pre-drill estimates, 'significantly' enhancing the company's discovered resource volumes across its Karish and Tanin leases.

The appraisal of the Karish North discovery confirmed best estimate recoverable resources of 0.9 Tcf (25 BCM) plus 34m barrels of light oil.

The results would allow the company to continue its gas marketing efforts in the region, with drilling of the three Karish main development wells set to get underway.

'Our focus now remains on closing the Edison E&P acquisition, in parallel with progressing the Karish development,' the company said.


At 8:44am: [LON:ENOG] Energean Oil Gas Plc share price was +24p at 924p



Story provided by StockMarketWire.com