Latest news from the market - Success at Larto Lake #1 - New project ready.
Over the past week, oil has been slightly downward due to the announcements from OPEC about loosening up on the reductions that have been adopted recently. The market reacted swiftly, sending oil down by several percent, but in the last few days, oil has regained the positive trends and is back at around $80 and rising.
The expectation is still that we will see rising prices over the summer, however, we do not hope for too high prices now that we have started to see interest rate cuts and inflation has come under reasonable control, as high energy prices could negatively affect inflation and thus also postpone the much sought-after interest rate cuts, which form the basis for both the real estate market and industry growth opportunities.
Success on our first In-House development project Larto & Forster#1
About 14 days ago we started up production at the Missiana#15 well, this well's initial production was an impressive +40 barrels per day, it has now stabilized at between 25-28 barrels per day, still higher than expected, where the total production at all 3 wells was set at 22 barrels per day.
It's nice to get things off to a good start when you're in charge of all the development and have great ownership of the sources.
Congratulations to everyone who chose to participate.
New project for sale - Larto Lake#2
This project is a further development of the Larto & Forster#1 project, consisting of the next 3 wells we will start production from in the Larto Lake field, which we own the rights to extract oil and gas from.
If you would like to read more about this project and see the opportunities to participate, please click on the link below.
https://energyneresources.com/larto_lake_2_english
We wish you all a great weekend
EnerGyne Resource
We wish you all a great weekend
EnerGyne Resourcesv