Candax Provides Operations Update
Investing News Network - October 19th, 2010
Candax Energy Inc. (TSE:CAX) reports that the El Bibane-3 well is producing from the newly installed production string.
Candax Energy Inc. (TSX:CAX) reports that the El Bibane-3 well is producing from the newly installed production string.
The press release is quoted as saying:
Oil production from the El Bibane-3 well has stabilized at about 130 bopd, with some 95% water-cut, production that is comparable to the overall volume of liquids that the well was producing prior to the well’s tubing failure in 2009. The well is currently being gas-lifted with gas from the El Bibane-5 well.