Pennpetro Energy PLC announced that further to its RNS dated 30 October 2023, the Chalk Talk #1H (CT1H) well has been on extended well test, the first two truckloads (170 bbls each) of 33 API oil have been dispatched from the oil storage facilities at the Whistling Straits #5H facility located 1,000 feet from the CT1H well. The CT1H well site and oil storage facilities at WS5H site are now commissioned. Initial oil production testing is now consistently yielding between 90 bopd - 110 bopd, which is significantly above the well's July 2022 shut in rate of around 15-20 bopd.

This increase can be put down to the workover rig successfully cleaning out a number of bridge plugs (or blockages) below the bottom of the casing. The well's production is still being optimised over this extended testing period and the Company will advise of flow rates and decline curves in due course.