StockMarketWire.com - Oil company United Oil & Gas said flow rates from a new well in Egypt exceeded pre-drill estimates.

United owned a 22% interest in the licence containing the Al Jahraa-8 development well in the Abu Sennan concession.

Preliminary short-term test results from the Lower Bahariya reservoir indicated a maximum flow rate of 2,093 barrels and 3.63 million standard cubic feet per day on a 64/64 inch choke.

The well would be brought onto production from the Lower Bahriya reservoir in the coming days.


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