Winchester Energy Limited announced that oil has been successfully recovered from the second Group Prospect workover well, Group-23A. The well is also producing higher than anticipated gas flows which will further improve the economics of the well given the current 14-year high in US natural gas prices. The impressive result has Winchester two from two at the Group Prospect following success with the first workover well, Group-16A. Group-23A was re-entered and perforated over a series of prospective intervals as identified from logs. The perforated intervals were then treated with acid to both clean up the borehole and stimulate hydrocarbon flow. Group-23A was then swabbed to remove residual acid (load water) and determine the presence of oil and gas. Oil began to flow upon swabbing in conjunction with significant gas blows. The high gas production warrants connection to the local gas pipeline network for sales. Preparation for network connection has commenced. Both successful wells will now be placed on pump with oil sales to commence immediately. The oil and gas production rate for each well will be determined once the flow rate stabilises under pump. Following the preparation of each well for production, the workover rig will move to the third well, Chapman-1, to begin recompletion activities as part of the extensive work
programme planned for the next three months. Along with Winchester's other recent acquisition, the Varn Oil Field, the Group Prospect will contribute to a significant increase in oil production by the end of CY 2022. Knowledge
gained from the performance of the Group Prospect wells will also assist with evaluation and development of the adjacent Whiteside Prospect. The Group Prospect work programme includes at least three shallow workovers, one deep re-entry recompletion (Chapman-1) and the drilling of three new low-risk wells.