XCD Energy Limited (ASX:XCD) has announced the results from the initial Independent Prospective Resources Report lately finished by ERC Equipoise Pte Ltd (ERCE), which has evaluated a potential resource associated with the company’s 100% owned Project Peregrine of over 1.6 billion barrels in the mean case.
- Multiple stacked Nanushuk objectives able to be tested with two shallow wells;
- Torok (~10,000 ft) and Nanushuk objectives able to be tested using traditional;
- ~US$250MM have being expended on drilling in 2020 on Alaska’s North Slope by ConocoPhillips (8 wells), Oil Search (2 wells) and Premier Oil/88E (1 well).
At AEST 01:18PM, the stock was trading at $0.013 per share, up by 8.333% from its previous close.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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