KEYFACT Energy
President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, provides an update on its current drilling programme at the Puesto Flores/Estancia Vieja Concession in Rio Negro Province, Argentina (President 90% and operator - Edhipsa 10%).
The PFO 1005 development well at the Puesto Flores field, being the last of the recent three well sequence, has now been spudded. With a provisional target depth of 2,700 metres, it is estimated that the well will be drilled in approximately 21 days.
The recently drilled PFE 1001 well is expected to be completed with a work over rig and be on stream by the end of next week.