Coelacanth Energy, Inc. (TSE:CEI) has released an update.
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Coelacanth Energy Inc. has earmarked a $128 million capital budget primarily for development at Two Rivers, with significant infrastructure investment, including a new battery facility and pipeline connections. The company expects to complete the Two Rivers East infrastructure by April 2025, enabling production from 10 wells with promising early production rates reported. Additionally, Coelacanth has improved the output of its Two Rivers West wells after overcoming initial water handling restrictions.
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