Pinedale Energy (TSE:MCF) has released an update.
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MCF Energy Ltd. has completed the drilling of the Welchau-1 well in Upper Austria ahead of schedule and under budget, with preliminary analysis revealing condensate-rich gas to light oil in the Steinalm formation. The well is now cased and ready for future testing, with a detailed analysis program underway on recovered hydrocarbon samples and core data, despite some sample recovery issues due to tool sticking.
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