Wednesday, 22 May 2013

DXNS chart

DXNS looks due for a pullback



Share price up 5.3% on RNS: Confirmation of a discovery of Condensate and Gas in IM-5 Well, Etinde Block, Cameroon. Kevin HART, Chief Executive Officer for Bowleven plc, EurOil's holding company said: "We are delighted with the overall results from IM-5 appraisal/development well which have surpassed our expectations. The flow rates that have been achieved on test, demonstrate substantial well deliverability from both the Middle and Intra Isongo intervals, and further strengthen the foundation for the planned development phase of Etinde. Due to the high deliverability of the Intra and Middle Isongo reservoirs, we are confident that we will be able to reduce the number of wells required to supply the planned fertilizer plant."

Time for a little victory song, I think: