UK smallcap opening – Indago Petroleum better after positive drilling results
Good progress was logged in Indago Petroleum, 6 pence better at 68, after latest drilling results at the West Bukha-2 offshore well in Oman indicated the site can be developed as a ‘significant’ oil and gas project.
The initial target reservoir, called Mishrif/Mauddud, flowed up to 7,600 barrels of oil and 20.5 mln standard cubic feet of gas per day, Indago said in a drilling statement. The secondary target, Thamama, flowed 4,392 barrels per day early this month.
