Fremont Petroleum Corporation Ltd (ASX: FPL) (“Fremont” or “the Company”) is very pleased to report that the J.W.Powell #23-25 well is starting to produce strong oil and gas volumes from the Niobrara Formation.
Crude oil is now flowing into the temporary tanks on location which generates revenue immediately, and the well is producing a 15-foot gas flare (see figure 1) in these very early stages.