Today, mining analyst Stephan Bogner from Rockstone Research published an update on Cardiff Energy Corp (TO:CRS) as the company released highly interesting news in two major dimensions yesterday. The drill completion of the horizontal well (Clayton #1H) in Runnels County, Texas/USA, is anticipated within the next days, whereafter initial flow rates will be disclosed, which may result in a re-evaluation of the company (current market cap: $7 million CAD). In case the company’s first horizontal well turns out to be a success and stable production rates are achieved, Cardiff Energy will be in a position to bring into production more horizontal wells on its almost 5 km2 (1,200 acres) large property, which was expanded significantly according to yesterday’s news.
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