Read the last paragraph.....
"After successful results of the workover of the Malolos-1 well and subject to assessment, the Company
will plan an extensive program of drilling appraisal wells in the surrounding areas with the aim to achieve
commercial production of oil and/or gas".
Does this mean that there is not enough oil in M-1 for production and they need more wells to make it viable?? Would appreciate if anyone with more insight can shed some light on this statement... Either way I'm still excited by the encouraging news, at least the oil signs are good, just the quantity is a concern.....
Good Luck all.....
Ann: Malolos 1 Workover Update , page-3
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