Production Increased at Guendalina Field Well

Junior explorer Mediterranean Oil & Gas (MOG) reported Tuesday that production has been increased at well GUE 3ss on the Guendalina Field, offshore Italy.

MOG said that after a period of monitoring, production after the well intervention that was conducted in January has increased by some 25 percent to 1.1 million cubic feet of gas per day. The operator, ENI, has a stated goal of increasing production from the well to 1.4 million cubic feet of gas per day by the end of May.

The Guendalina Field, as a whole, is currently producing approximately 1.3 million cubic feet of gas per day net to MOG – an increase of 23 percent over production for December 2013.

MOG Chief Executive Dr Bill Higgs commented in a company statement Tuesday:

"We are pleased that production at this important asset is on the increase again, as Guendalina delivers important revenues for the company.  We are working closely with the operator to establish a plan to further increase the value of this asset."

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