US Oil & Gas (USOPY)

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US Oil & Gas restarts testing on Eblana 1
By Jamie Ashcroft April 10 2013, 8:16am US Oil & Gas restarts testing on Eblana 1



Nevada focused oil explorer US Oil & Gas (GXG:USOP) has told investors that testing has now resumed on the Eblana 1 well.

This comes after operations paused to allow for thorough data analysis.

In December the company said it would test 14 zones, eight of which have previously been perforated. The programme initially got underway at the start of this year.

“We were able to confirm the first discovery of light sweet crude in Nevada for over 30 years,” chief executive Brian McDonnell said in last month’s final results statement.

“The board expects the resumption of testing will confirm a minimum net pay zone of 150ft and is hopeful of producing a stabilised flow rate, which may prove commercial.

“For a first exploration well in an unproven location this is a remarkable result, and we are delighted by the achievement.”