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Longboat Energy PLC - exploration and production company focused on the North Sea - Commences drilling operations at the 25%-owned Cambozola exploration well in Norway. Longboat says the well is a ‘play opener’ and calls it the largest gas prospect to be drilled in Norway in 2022. The drilling of the Cambozola well 34/9-1S is expected to take up to 14 weeks.
Chief Executive Helge Hammer said: ‘Longboat Energy's remaining 2022 exploration programme offers shareholders a unique opportunity to gain gas weighted drilling exposure targeting net mean prospective resource potential of 66 million barrels of crude oil equivalent with an additional 246 million barrels of crude oil equivalent of upside.’
Current stock price: 73.50 pence
12-month change: 21%