Pinedale Energy Limited (TSE:MCF) has released an update.
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Pinedale Energy Limited has received the final permit for exploratory drilling at the Kinsau 1A well in Germany, with operations set to commence in September 2024. The project is a re-entry and redrill of a previous discovery well boasting significant initial test results, and MCF Energy will not require additional capital as partner Genexco Gas GmbH is covering up to 5 million euros of the costs. With infrastructure already in place and a history of gas production in Bavaria, the company is poised for efficient drilling and has identified further potential development sites in the region.
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