Australia's Winchester Energy climbs on a potential oil pay zone in Texas

Winchester Energy

23/07/2021 06:17

** Shares of Winchester Energy  WEL.AX  rise as much as
33.3% to A$0.020, marking their best day since April 27
    ** The oil and gas explorer has encountered a potential oil
pay zone of 84 feet in the Ellenburger Formation at its White
Hat 2106 well located in the East Permian Basin, Texas
 urn:newsml:reuters.com:*:nASX649rPp
    ** Says the potential pay zone, from 6,637-6,721 feet,
demonstrates strong oil shows and visual vuggy porosity
    ** Co says casing of White Hat 2106 is underway ahead of
flow testing with any oil and gas production to go to sales
immediately
    ** Stock hits highest since June 16
    ** Stock down 31.8% YTD, as of last close 

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))