Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Stonehorse Energy Ltd ( (AU:SHE) ) has provided an update.
Stonehorse Energy Ltd has entered into a definitive agreement to participate in the drilling of a new well targeting the Ellerslie reservoir in the Drumheller area near Calgary, Alberta, with an investment of C$1.15 million for a 20% working interest. The company is also finalizing agreements to participate in up to three additional wells in the same area, investing approximately $1.82 million per well for a 35% working interest. This strategic move is expected to strengthen Stonehorse’s position in the Western Canada Sedimentary Basin, known for its high returns and economic competitiveness.
More about Stonehorse Energy Ltd
Stonehorse Energy Limited (ASX:SHE) is an Australian-based exploration and production company focusing on onshore oil and gas in Canada and the United States. The company aims to build a portfolio of high-quality well bore assets with working interest percentages that align with its risk appetite and capital availability.
Technical Sentiment Signal: Sell
Current Market Cap: A$4.11M
For an in-depth examination of SHE stock, go to TipRanks’ Overview page.