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Stonehorse Energy Ltd ( (AU:SHE) ) just unveiled an update.
Stonehorse Energy reports that its first Drumheller well in Alberta, Drumheller #1, brought online in Q4 2025, is outperforming budget at 123 barrels of oil equivalent per day net to Stonehorse Canada. The well targets the Ellerslie Reservoir, a light oil play producing over 40,000 boe per day with a strong liquids component and sustained annual growth, reinforcing the strategic appeal of the area.
The company has successfully drilled Drumheller #2 to total depth and has commenced drilling Drumheller #3, with Drumheller #4 to follow as part of a four-well development program on existing pads. Stonehorse will invest CAD$1.85 million per well for a 35% working interest, expects the three new wells to start oil production early in the second quarter of 2026, and retains an option to extend the program, with more than 80 additional potential well locations identified by the operator.
The most recent analyst rating on (AU:SHE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Stonehorse Energy Ltd stock, see the AU:SHE Stock Forecast page.
More about Stonehorse Energy Ltd
Stonehorse Energy Limited is an Australian-listed oil and gas company focused on light oil production in Western Canada. Through its Stonehorse Canada subsidiary, the company participates in joint-venture drilling targeting the Ellerslie Reservoir in Alberta, aiming to grow oil-weighted production by partnering with basin experts in established, liquids-rich plays.
Technical Sentiment Signal: Sell
Current Market Cap: A$5.48M
See more data about SHE stock on TipRanks’ Stock Analysis page.