TTE - Announcemet just out (Allen Dome Discovery well flowing @ 408 barrels of liquids per day):-
Highlights include:-
• JT Reese #S2 discovery well at Allen Dome oil field in Texas now in production
• Current flow rate 408 barrels of liquid per day (25% oil ratio) on 18/64 choke
• Potential to increase storage tank and flowline capacity to handle higher oil production being considered
• First shipments of oil have begun from the new well
• Strong cashflow anticipated
• Planning underway for aggressive follow up drilling programme
• Advanced negotiations continue for further Allen Dome acreage acquisitions
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