Exploration & Production | Quarterly / Earnings Reports | Second Quarter (2Q) Update | Production Rates
Petronova Continues Testing in Phase 2 Exploration
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PetroNova Inc., has announced its operational and financial results for the quarter ended June 30, 2014.
Antonio Vincentelli, President and CEO of PetroNova said: "PetroNova continues to progress our exploration and development plans, and has advanced to phase 2 of our exploration programs in the CPO-13 and PUT-2 Blocks.
The proceeds from the recently completed $8 million private placement will support a drilling campaign on the CPO-13 Block, where we plan to drill at least four wells to delineate the Pendare discovery and appraise the extension of the Quifa SW oil field onto the Block."
Obtained its December 31, 2013 reserves report, which shows a 74 percent increase in its net 2P (proved plus probable) reserves compared to 2012 (for details, please…
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