NEWS: Today we're pleased to share an update on the continued testing of the Welchau-1 well in #Austria.
The results of activities including well pressure monitoring, sampling and well fluid analysis are expected to be available early in the new year after which a decision on further stimulation or testing operations will be made.
https://t.co/fds9Qn5cE6
$MCF.V $MCFNF
@mcfenergy is pleased to provide an update on Reudnitz Gas field testing and development operations in addition to wellsite preparation for the Kinsau-1A well at Lech, Germany: https://t.co/mTCpvFPZgT
More news on our Welchau-1 well in Austria:
Well testing has taken place, both testing of the Steinalm formation, and Reifling formation where fine solid particles of unknown origin ("Solid Contaminants") were present in the well. The Solid Contaminants recovered from Reifling had a petroliferous odour.
Additional activity has also taken place. Please refer to the release.
Next steps for Welchau will be determined once Further Well Flow Information is collected and assessed.
PRESS RELEASE: @mcfenergy provides an update on the production testing taking place at the Welchau-1 well in the ADX-AT-II licence in Upper Austria and well-site preparation for the Kinsau-1A well at Lech, Germany.
https://t.co/ErXsgLREqe
PRESS RELEASE: @mcfenergy Provides Update on Testing 450 Meters of Hydrocarbon Shows at Welchau-1 Austria
James Hill CEO of MCF Energy commented:
"I am very excited to begin testing on the Welchau-1 well in Austria. A successful test could provide significant resources to Austria and increase the country's energy security. Drill site construction is underway at our Kinsau 1A site in Germany with drilling scheduled to begin in Q1 of 2025. We expect to be providing many updates in the coming months as these projects proceed."
https://t.co/5nn7zw8EKY
The State of European energy this week:
In Ukraine, whose pipes transit Russian gas to central Europe, threats to energy infrastructure persist.
Following last week’s dip, “markets have returned to their ‘as they were’ levels as attacks on the Ukraine-Russia border continue.”
In Norway, Europe’s largest supplier, several unplanned outages are compounding the impact of seasonal works at gas facilities.
And in the US, flows to the Cove Point liquefied natural gas export terminal slumped over the weekend, coinciding with scheduled maintenance.
EUROPE GAS OUTAGES: Gullfaks, Sleipner, Asgard, Skarv See Cuts
On the demand side, temperatures in parts of Europe are set to drop below seasonal norms through the start of October, potentially boosting gas use for heating.
Reported by @financialpost
.@mcfenergy CEO James Hill join @JillMalandrino on @Nasdaq#TradeTalks to discuss meeting global energy demand and the challenges and opportunities associated with transitioning to renewable energy sources. https://t.co/gBUVSevrEx