OPL has undertaken a placement to raise $5.18m to " expedite production and take advantage of the current highoil prices. Orchard is currently involved in testing two discoveries at Jack Hamar (South East Lost Hills shallow gas) and the Edge discovery in the Sacramento Basin. Orchard is also moving a “fraccing” crew onto its South Belridge project in order to increase oil production from the field. All these projects have the potential to add significant amounts of oil and gas to Orchard’s growing production base."
This might be the beginning of good things to come.
NEO Price at posting:
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