Exploration company Petroceltic has reported upbeat flow tests from its latest test well in Algeria.
The data from the AT-8 well in the Ain Tsila field is the highest in the company’s programme in the bloc to date.
Brokers said the news might “go some way to allay recent market concern over the ultimate field recovery factor”.
Petroceltic said the well at the northern end of the field in its Illizi basin licence in the north African state flowed at a rate of 15.4m cubic feet of gas per day.
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The Irish company is the operator of the licence and has a net 56.625 per cent stake in the field.
