AED 0.00% 14.5¢ aed oil limited

highlights

  1. 1,899 Posts.
    HIGHLIGHTS FOR THE QUARTER
    • The company appointed Macquarie to undertake a strategic review and
    significant interest has been received to date in relation to parties interested
    in participating in AED assets.
    • The Company reached a major milestone in the quarter when production
    commenced on 6 October 2007 and the total production for the quarter was
    839,698 barrels. At the date of this report in excess of 1,000,000 barrels of
    Puffin crude oil has been produced.
    • Independent report by an international well completions consulting firm
    confirms production issues are localised to the current wells. Remedial
    options are being assessed which may improve current well production at
    Puffin-7 by a factor of 2-3 times.
    • Confirmation also received that for future development wells, envisaged
    changes to drilling, completion and stimulation practices may help to avoid
    current problems encountered. Plans are continuing to be developed to drill
    the third development well into the NE1 reservoir.
    • Development plans for Puffin SW region and Talbot progress


    SP $2.00 not for long.
 
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