Hungary

By OGJ editors
HOUSTON, Mar. 10 – A group led by Ascent Resources PLC has completed the PEN-101 well in the Peneszlek area of the Nyirseg exploration permits in eastern Hungary.

PEN-101 flowed gas at the rate of 1 MMcfd from a Miocene formation, and output is expected to climb in coming days after a small acid treatment. The PEN-105 discovery well will begin producing to sales in mid-March.

The rig will move to test the PEN-104AA sidetrack and then continue drilling PEN-106, which targets a structure similar to that proven at PEN-105.

Project interests after Leni Gas and Oil’s recent exit from the project are Ascent 48.776%, DualEx Energy International Inc. 40.44%, Swede Resources AB 2.157%, and Geomega kft 8.627%.