Tuesday, 27 August 2013

Petromin Resources Ltd. is pleased to announce that it has solved all mechanical issues at its 15-23-42-28W4M Morningside dual producing oil /gas well. The first month of continuous production has produced approximately 62 cubic meters of oil (approximately 380 barrels) and approximately two million five hundred thousand cubic feet of gas. The gas rate has been gradually increasing over the last month of production and is currently flowing at approximately eighty five thousand cubic feet per day.

Petromin retains a gross overriding royalty before payout convertible to a 25% working interest after payout and retains a 50% working interest in the undrilled acreage.