Pinedale Energy Limited (TSE:MCF) has released an update.
Pinedale Energy Limited has received the final permit for exploratory drilling at the Kinsau 1A well in Germany, with operations set to commence in September 2024. The project is a re-entry and redrill of a previous discovery well boasting significant initial test results, and MCF Energy will not require additional capital as partner Genexco Gas GmbH is covering up to 5 million euros of the costs. With infrastructure already in place and a history of gas production in Bavaria, the company is poised for efficient drilling and has identified further potential development sites in the region.
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