UPDATE ON OIL PRODUCTION FLOW TEST OPERATIONS SERVICE CONTRACT 44 (100%) Onshore Cebu, Philippines
Gas2Grid Limited is pleased to report on the status of the Malolos-1 extended oil production test operations aiming to confirm the commerciality of the Malolos Oil Field.
The selected small crew has been mobilized to the site during the week to prepare Rig-2 for the operations. Early next week the well clean-out will commence and the swabbing unit will arrive to be readied to swab liquids for a period of about 2 weeks from the well and produced from one of the two oil bearing sandstone. This extended oil production test will be followed by a shut-in period to assess the reservoir pressure build-up.
GGX Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held