STTCOMP PRL, FA Long Oil/Gas explorer in Uruguay MC $31m Petrel...

STTCOMP PRL, FA Long

Oil/Gas explorer in Uruguay MC $31m

Petrel Energy

Material certified "company defining" resource in Uruguay on 3.5m acres
Multi TCF gas and billion barrel oil potential
Multi well continuous conventional well drilling programme
Multiple targets with multiple objectives
Currently the first well has been drilled to TD and tested.

Testing from first well confirms first ever discovery with oil to surface in Uruguay

Second well is being drilled now TD around 1400m. Drilling currently around 550m, results expected soon. PRL Shae price took a huge dip over last year or so due to delays and issues with the first well, however, since then they have engaged drilling consultants and experts – and have not had an issue since.

Second well is the best of the four with both oil and gas potential. Huge upside here if things come through.

Recently directors have also bought in further..