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New prospects give Eon NRG potential to 'quadruple the size of the company overnight'

Eon NRG Ltd (ASX:E2E) managing director John Whisler speaks to Proactive Investors about the energy company's portfolio of projects, spanning oil and gas and battery minerals, with an emphasis on a recently-identified high-return prospect opportunity in the Powder River Basin of Wyoming, USA.

Speaking about the expected impact on the company's production profile, Whisler says, "we're going to drill six wells; four of those with a probability of success, will actually be 300-400 barrels a day. So that will put us well over 1,000 barrels of oil a day, [whereas] we're currently only about 500 of BOE per day. So, we'll actually double in size overnight, but the real upside of it is, we can replicate it. For every four successful wells,  we can drill three to four offset wells or infill development wells on each one of those prospects. So we can easily quadruple the size of the company overnight."

 
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