Proactiveinvestors Australia

Graham Bradley, the chairman of Po Valley, has told shareholders that solid cash flows, increased gas production and funding for new production facilities are on the cards for the company this year. It is also on the hunt for farm-in partners to progress a number of its assets.

The start-up of gas sales from SRH-5H horizontal well adds to the cash flow from Golden Gate’s existing vertical wells in the Permian Project. This is set to rise further once oil production hits a level that allows the company to establish a long term producing base.

The award of WA-485-P locks in a potential extension of the M.australis horizon oil play that IPB Petroleum plans to test in mid-July. Success will add to the prospectivity and value of the new permit.

With the completion of well in one of the thickest Lower Forest pay sections encountered to date, drilling of new wells and workovers of existing wells, Range Resources is making strides in ramping up oil production from its Trinidad operations.

An Independent Report by RPS Energy Services has defined the strong in-place potential for multiple billion barrels of oil and trillion cubic feet of gas to be contained within the various unconventional reservoirs in Empire Oil and Gas’ onshore Perth Basin Permits.