Brief: Atlantic Petroleum Provides Orlando Field Production Update

Atlantic Petroleum P/F

14/06/2019 20:48

June 14 (Reuters) - Atlantic Petroleum P/F  ATLA.CO :
    * REG-ATLANTIC PETROLEUM ORLANDO FIELD PRODUCTION UPDATE
    * PRODUCTION FROM ORLANDO FIELD BEGAN AT A LOWER RATE THAN
EXPECTED
    * PRODUCTION OVER FIRST TWO MONTHS HAS AVERAGED
APPROXIMATELY
4,500 BOPD, BELOW LICENCE OPERATOR'S TARGET OF 10,500 BOPD
    * ATLANTIC PETROLEUM - CO CURRENTLY IN PROCESS OF
RE-EVALUATING
ASSET AND EXPECTS TO DOWNGRADE ASSET'S VALUE IN 2019 Q2
CONSOLIDATED INTERIM REPORT
    * ATLANTIC PETROLEUM - REMAIN OPTIMISTIC THAT PRODUCTION
RATES
WILL IMPROVE
    * STILL HOLD VIEW THAT ORLANDO DEFERRED CONSIDERATION WILL
START
TO BE REALISED IN SECOND HALF OF 2019

Source text for Eikon:  ID:nGNE7jm4q8 
Further company coverage:  ATLA.CO 

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