Iona Energy Announces Tyne Well Flow Rate

By Midnight Trader,  January 14, 2013, 01:49:51 PM EDT

Iona Energy Inc. (INA.V) announced that the 44/18-T6 well on the Tyne Gas Field has been completed as a production well and has successfully flow tested at an average rate of 25 million standard cubic feet per day (MMscf/d) with a peak rate of 28 MMscf/d during an eight hour production test.

The well has been handed over for production operations and the rig is preparing to leave the Tyne area.

Iona owns a 20% non-operated working interest in both the Trent & Tyne Gas Fields with an option to increase interest in both fields to 37.5%.

INA shares dropped two cents to $0.60 on volume of 1.05 million.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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