Ann: Oil Production - April 2018, page-3

Can't see much to complain about but no doubt the complainers will. lol
Cashflow positive mmm.
" Fremont Petroleum Corporation Ltd (ASX: FPL) (‘Fremont’ or ‘the Company’) is pleased to report oil production for
April of 3,336 barrels of oil (net to Fremont). Production from the 100%-owned, 16,798-acre Pathfinder project in
Colorado was 2,909 barrels of oil, and production from the Kentucky field was 427 barrels of oil. This compares to
production in March of 2,002 barrels of oil, a 40% increase.
Production growth is attributed solely to the improved performance of the Pathfinder field which is benefiting from
low cost work-overs of producing wells, and bringing some idle wells back on stream. Work-overs on 13 wells in
Colorado have been completed with seven remaining. Work-overs on the Kentucky wells commenced in May.
Production for May is likely to increase again given the benefits of work-overs will be realised this month. Table 1
illustrates the current well status.
Sales revenue from production is being enhanced by higher oil prices, and together with Fremont’s low cost base,
the Company now becomes cash flow positive.
President and CEO of Fremont Timothy B. Hart said: “Production for April is encouraging and we expect further
upside once the benefits of all work-overs are realised. Our priority at this time is to extract further gains from our
Colorado assets and we will report on the outcomes of all work-overs shortly.
“As we grow production, cash flow will continue to strengthen. We are now cash flow positive and we want to
enhance this position by extracting maximum production from our fields.”