Organic Oil Recovery Pilot Test Result

Hunting PLC (LSE: HTG), the global precision engineering group, today notes the stock exchange announcement issued by Buccaneer Energy PLC (AIM : BUCE), which details the pilot test results at its Pine Mills field in East Texas, using Hunting’s Organic Oil Recovery enhanced oil recovery solution.

As noted in the announcement, production within the oil wells reported a 100% uplift, and in one well reduced the water cut to zero. Buccaneer Energy notes that the OOR technology will be rolled out across other wells within its portfolio.

Hunting is delighted with this successful pilot treatment, which highlights the impact that the Company’s OOR solution can have on oil production.

Commenting on this result, Jim Johnson, Chief Executive said:

“This well result supports our confidence in the OOR technology, as a lower cost enhanced oil recovery solution which can be utilised in many oil wells globally.”