Pan-Ocean Energy Corporation Limited has announced that the recently completed ET-5H development well, in the Etame Field offshore Gabon, has stabilized at
approximately 9,200 barrels of oil per day, bringing total field production to approximately 23,500 bopd (7,370 bopd net PanOcean). The increase in Etame brings PanOcean's overall production to approximately 10,700 bopd. The Etame partners intend to continue to carefully monitor all aspects of the operation to optimize production and recovery from the field.
PanOcean owns a 31.36% working interest the Etame Field, with the other partners VAALCO Energy, Inc. (28.07% and operator), Sasol (27.75%), Sojitz Etame Limited (2.98%), PetroEnergy Resources Corp. (2.34%) and Tullow Oil plc (7.5%).
