Pinedale Energy Limited (TSE:MCF) has released an update.
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MCF Energy Ltd. has commenced production testing at the Welchau-1 well in Upper Austria, reporting initial fluid flows of 240 to 290 barrels per day, primarily consisting of drilling mud, formation water, gas, and traces of oil. This marks a significant step in assessing the potential of the Northern Calcareous Alps region, despite the limited presence of hydrocarbons in the initial test interval. The ongoing analysis aims to better understand the fracture system and hydrocarbon potential in the complex Steinalm Formation.
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