The QUN 160 development well spudded on 9/11 and is the fourth development well and a re-drill of the QUN 158 well targeting the Upper Cruse and Lower Forest sands in the Morne Diablo field. The fifth development well is the GY 218 in the Beach Marcelle field and is currently being mobilised ahead of spudding in early December.
I would expect reasonable production increases from the waterflood projects as the company moves to hit production targets next year. With recent funding giving clarity to its finances and what seems like a good relationship with its partner, RRL looks very strongly placed to deliver and the next few months should be exciting.
RRS Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
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