Crown Energy Updates on Gazania-1 well, offshore South Africa
INSIDE INFORMATION: Crown Energy AB, wishes to inform the market that the Gazania-1 well on Block 2B, offshore South Africa, which spudded on October 10, 2022, reached target depth of 2360m and encountered non-commercial hydrocarbons. The well will now be plugged and abandoned as originally planned. The logging is on-going now and the JV partners will undertake a detailed analysis of the results. Additionally, the JV Partners submitted a Production Right application to the Petroleum Agency of South Africa (“PASA”) on November 15, 2022, for Block 2B, based on the existing oil