3Legs shows good turn of foot
Recovery stock 3Legs Resources is seeing much improved oil flow at its Lebien LE-2H horizontal well in northern Poland.
Recovery stock 3Legs Resources is seeing much improved oil flow at its Lebien LE-2H horizontal well in northern Poland.
The well has flowed continuously and unassisted at a rate of between 560m and 780m standard cubic feet per day (scf/d) of natural gas over an eight-day period since October 29th, which represents a significant improvement on the result achieved when the well was first tested in 2011 where the well flowed, with the assistance of a nitrogen lift, at a rate of between 450 and 520 mscf/d over an eight-day period prior to being shut in. Furthermore, the well now flows without the assistance of a nitrogen lift, an operation often used to bring a previously flowing well back on production.
The plan is to continue further testing of the well in order to determine a stabilised flow rate and to gather additional data on well performance.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
JH
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published