Magnolia Petroleum reassures after internet speculation
Magnolia Petroleum has said that reports made on internet bulletin boards relating to the Prucha 1-23MH and Brandt 31-28-12 1H wells in the US derive from early 24-hour test runs by the operator rather than initial production rates.
Magnolia Petroleum has said that reports made on internet bulletin boards relating to the Prucha 1-23MH and Brandt 31-28-12 1H wells in the US derive from early 24-hour test runs by the operator rather than initial production rates.
The AIM-listed oil and gas exploration and production company cautioned investors that there is no simple correlation between the results of a 24-hour test run and the eventual initial production rates and that the former can be "misleading".
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