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23 Jun, 2022 12:15

Oilex reports progress on India re-fraccing

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OilexSharecast graphic / Josh White

Oilex updated the market on its operations in India on Thursday, reporting that the workover rig arrived at the C-77H wellsite on 20 June.

The AIM-traded firm said it was now being rigged up, in preparation to pulling the completion string from the C-77H wellbore.

Civil works to prepare the wellsite for the ‘re-fraccing’ operations, meanwhile, had been completed.

“All major services and equipment have been secured for the hydraulic fraccing operation which is scheduled to commence mid-July,” the board said in its statement.

“The fraccing operation is anticipated to last seven days, and will be followed by flow-back and testing.

“We currently expect to be able to announce the results of the re-frac operation in August.”

At 1115 BST, shares in Oilex were up 2% at 0.16p.

Reporting by Josh White at Sharecast.com.


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

The value of investments can fall and you may get back less than you invested.