President Energy to reactivate Estancia Vieja field in Argentina

President Energy said it had decided to reactivate the Estancia Vieja field in Argentina following a series of tests.

Three test wells were carried out, with two producing median rates of around 200 and 250 barrels of oil equivalent per day on a 6mm choke, plus associated condensate, with the top rates achieved at larger choke sizes of 300 and 520 boepd, respectively.

First gas production was targeted for late in the second half of 2018, the company said.

At 8:29am: (LON:PPC) President Energy Plc share price was +0.2p at 11.33p