Reabold, the AIM investing company which focuses on investments in pre-cash flow upstream oil and gas projects, is pleased to provide an update on the drilling activity at the VG-6 well located in its West Brentwood licence in California, in which the Company has a 50 per cent. interest.
Further to the announcement of 10 December 2019, the VG-6 well was drilled by Integrity Management Solutions ("IMS") to a measured depth of approximately 1,455 meters and encountered oil and gas shows at the target interval, consistent with pre-drill expectations.
As per the planned work programme, the drilling rig has now been released and a workover rig is being contracted by IMS to commence the testing programme. Further announcements will be made in due course as to the results of the test and the commerciality of the well for production.