Pinedale Energy (TSE:MCF) has released an update.
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MCF Energy Ltd. has commenced drilling at the Welchau-1 gas exploration well in Upper Austria, successfully installing the first protective casing at a depth of 125 meters. The well aims to tap into the mid-Triassic Steinalm formation, with main target depths between 1,100 and 1,800 meters and a total expected depth of up to 1,900 meters. The entire drilling and evaluation phase is projected to take around 39 days.
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