Eland Oil & Gas PLC has materially increased current production rates.
Following the successful workover of the Opuama-1 well, the Opuama field is now producing from 4 strings from 2 wells. This successful intervention has resulted in an increase in average gross production output to 4,400 bopd (1,980 bopd net to Elcrest Exploration and Production Nigeria Ltd, Eland's joint venture company). This represents an increase of over 50% from previously announced production levels.
The Opuama Field has recorded 93% uptime in the 4 months between July and October this year.