Oil company Panoro Energy reported total revenues of USD 7.59 million in the third quarter 2020, with positive EBITDA of USD 2.45 million.
Numerous operational initiatives are expected to increase Panoro’s net production in the upcoming quarters. The company added.
John Hamilton, CEO of Panoro, commented: “We are starting to see a return to the production growth story at Panoro.
The recent increase in Tunisia, growing total gross production more than 25% to 5,000 bopd, is highly encouraging, and we remain confident that we can unlock further upside potential in the TPS concessions.
Indeed, the company said that the production target of 5,000 bpd was achieved during October in Tunisia, where current production is stable at these levels. As for the quarterly production, it was 3
As for the Guebiba 10 field, the company reports a confirmation of oil in two reservoirs, in production in the lower Bireno interval, with a very productive Douleb to be produced in the future.
In addition, several workover activities were carried out during the quarter and are continuing in the fourth quarter all completed safely and without incident, Panoro Energy stated.