Lochard Energy Group PLC Operational update (9502H)
June 27 2013 - 1:10AM
UK Regulatory
TIDMLHD
RNS Number : 9502H
Lochard Energy Group PLC
27 June 2013
Lochard Energy Group plc
("Lochard" or the "Company")
Operational Update
Lochard notes the announcement made by Ithaca Energy plc which
contained the following update in relation to the Athena field:
"During the quarter the Athena field completed its first full
year of operations, with gross production of approximately 3.6
million barrels having been produced to date.
Gross production from the field is currently at a reduced level,
primarily as a function of one of the four producing wells, the
"P2" well, being temporarily shut-in awaiting a repair to the
electrical cable serving that particular well. A diving support
vessel has been contracted to perform the necessary operations to
fix the electrical fault and reinstatement of production from the
well is anticipated within the next few weeks.
During the quarter, the Athena field commenced the production of
water with oil. This is significantly later than originally
anticipated. As previously noted, the evolution of the water
production profile will now provide important information for
forecasting the ultimate field production profile and the scope for
future potential upside investment opportunities."
- Ends -
For further information, call:
Lochard Energy Group Plc
Clive Carver, Chairman +44 1883 717 357
finnCap Limited
Matthew Robinson / Christopher Raggett +44 20 7220 0500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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