- Decklar Resources (DKL) has resumed production from the Oza-1 well at the Oza Oil Field in Nigeria
- Decklar and its co-venturer Millenium Oil & Gas Company Limited received the permits required to resume production from the Oza-1 well at the Oza Oil Field
- The crude oil produced from the Oza-1 well will flow into storage tanks at the Oza Oil Field and then be delivered by truck to the crude-handling facilities
- Decklar Resources Inc. is an oil and gas exploration and development company
- Decklar Resources Inc. was up 1.515 per cent, trading at $0.335 at 12:11 PM ET
Decklar Resources (DKL) has resumed production from the Oza-1 well at the Oza Oil Field in Nigeria.
The resumption of production came after Decklar and its co-venturer Millenium Oil & Gas Company Limited received the permits required to resume production from the Oza-1 well at the Oza Oil Field.
Production from the well has begun at low volumes initially to reestablish oil flow, with volumes to be increased steadily in order to establish a long-term sustainable rate.
The crude oil produced from the Oza-1 well will flow into storage tanks at the Oza Oil Field and then be delivered by truck to the Umugini Pipeline Infrastructure Limited crude handling facilities.
“The resumption of production from the Oza-1 well is the first step to get Decklar back on track with plans to continue delivering oil and working to improve logistics and increase oil deliveries in the near future,” stated Duncan Blount, CEO of Decklar Resources.
“Delays were experienced obtaining permits needed to restart the Oza-1 well, but operations have now resumed, and oil is being produced into onsite storage tanks.
The company looks forward positively to future development and drilling activities at the Oza Field and continued progress on development activities at the company’s other fields.
Decklar Resources Inc. is an oil and gas exploration and development company principally focused on low risk appraisal and development opportunities in the prolific West African region.
Decklar Resources Inc. was up 1.515 per cent, trading at $0.335 at 12:11 PM ET.