MX Oil: First Sale From Oil Production at Aje Registered

Oil and gas investing company MX Oil announced Wednesday that PR Oil and Gas Limited, the holder of its investment in OML 113, has received $1.2 million from the sale of the first production of oil from the Nigerian Aje Field, which forms part of OML 113.

"We are very pleased to announce that the first oil production from the Aje Field has been sold and that we have now received our first income from our investment in OML 113,” said MX Oil's CEO, Stefan Olivier, in a company statement.

The Aje field commenced production in May. MX revealed in July this year that it expected output from the field to be maintained at a restricted rate of approximately 7,000 to 8,000 barrels of oil per day.

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