Pinedale Energy (TSE:MCF) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
MCF Energy Ltd. has announced a significant gas and condensate discovery at its Welchau-1 well in Austria, encountering 115 meters of gas-rich layers with evidence of natural fracturing, vital for extraction. The discovery is strategically located near pipelines and offers numerous drilling sites, with the company moving forward on testing and analysis to enhance production. The success of the well, which reached a total depth of 1,733.1 meters, also confirmed a hydrocarbon seal, dispelling initial project risks and matching previous findings from the nearby Molln-1 well.
For further insights into TSE:MCF stock, check out TipRanks’ Stock Analysis page.