After 23 days of production testing of the State 16-2LN-CC well located on Zephyr’s Paradox Basin project in Utah, the company notes that the well has demonstrated stronger than expected production potential coupled with the capacity to drain a considerably larger hydrocarbon resource than expected at the pre-drill stage.
The company is now proceeding with plans to equip the well and facilitate the sale of gas and liquids in the near future. The Directors believe the well could provide significant shareholder returns with not only a high liquids content but also substantial gas production and optionality on how it will be monetised.
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