- Oil company President Energy said oil and associated gas had flowed successfully following testing at an exploration well in Rio Negro province, Argentina.

Preliminary testing was conducted on the EVN-x1 well, on the lower of two identified pay intervals shown by logs.

Oil and associated gas successfully and continuously free flowed to surface without the need for swabbing or pumping, President Energy said.

The results, it added, were in line with success-case expectations, with initial production of over 200 barrels of oil per day expected, plus associated gas.

'Due to the productive success of this interval, the upper gas prone interval will be tested and then produced at a later time,' President Energy said.

The well would be placed into production in the next 14 days.

At 8:50am: [LON:PPC] President Energy Plc share price was 0p at 1.63p

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