Rift Oil has received an analysis of the flow-test data on Puk-Puk from a qualified independent reservoir engineer, Joseph Johnston. The overall conclusions are summarized as follows:
Chairman Ian Gowrie-Smith commented, "We are very pleased with the conclusions of the Puk Puk-1 test report, which indicate that we have high quality reservoirs, fully charged with gas; and can anticipate production wells individually producing at rates in the order of 100 million cubic feet per day of gas. These rates, combined with the relatively shallow depth of the reservoirs and hence relatively cheap drilling costs, greatly enhance our ability to carry the project forward to profitable development."
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