Incremental Petroleum (IPM) announced that current quarter production from its 100% owned Selmo oilfield is approximately 20% above the 2008 half yearly production average. The oilfield is maintaining current production in excess of 1500 barrels of oil per day.
The main reason for the production uplift is that IPM is successfully unlocking the potential of the inclined and horizontal wells drilled over the last 18 months, together with successful well work-over operations.
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