Australia's Stonehorse Energy jumps on strong production volumes

Stonehorse Energy

08/03/2024 02:34

** Shares of Stonehorse Energy  SHE.AX  rise as much as 8.3%
to A$0.013, on track for their best day since Feb 27, if trend
holds
    ** The oil and gas explorer reports production volumes in
its Canadian Wells - Caroline well & Gryphon Wapiti well
    ** Co adds that Caroline well produces over 165,000 BOE in
first 135 days of production
    ** Co says Gryphon Wapiti well produces over 17,000
BOE in the first 60 days production
    ** Caroline well in particular continues to deliver material
production & revenue, more than doubling company's total daily
production - Stonehorse Energy 
    ** Stock on track for its worst week since Feb 2
    ** Stock down 20% this year, as of last close
    

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))