President strikes Louisiana pay

LSU Tigers fans cheer before the NCAA BCS National Championship college football game against the Alabama Crimson Tide in New Orleans, Louisiana, January 9, 2012. REUTERS/Sean Gardner (UNITED STATES  - Tags: SPORT FOOTBALL)

Louisiana scores: President Energy has hit a nine metre net oil pay while drilling in the East White Lake field

UK-listed President Energy said it has hit about nine metres of net oil bearing pay while drilling a well at its East White Lake field in Louisiana.

The A-54 well was drilled to a depth of 2865.1 metres with logs successfully identifying 9.14 metres of pay, the company stated on Wednesday.

The well has been cased and lined and a workover rig is currently being mobilised for its completion.

Production is expected to start in about four weeks, President said.

Meanwhile, at the company’s South American operations, a three-well fracture stimulation programme is expected to resume in Argentina shortly, following the end of the wet season.

President said the initial results from this programme were anticipated around the end of the first…

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