Canuc Resources (TSE:CDA) has released an update.
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Canuc Resources Corporation has announced the commencement of repair and workover operations on its Coody-Morales Trac 3-3 natural gas well in West Texas, which has been a consistent source of revenue since 2011. The well has shown low decline rates and the company plans to tap into additional hydrocarbon zones upon economic depletion of the current formation. Canuc is focused on maximizing cash flow while avoiding shareholder dilution through the strategic development of its existing assets.
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