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Thursday, Aug 22
Contango Oil & Gas announces exploration discovery
- Contango Oil & Gas (MCF) says it struck hydrocarbons at an exploration well at its South Timbalier 17 prospect offshore Louisiana.
- Estimated reserves and production rates will be dependent upon the liquids content of the formation, which may be determined after further testing.
- MCF says the well will cost ~$12.5M to drill, complete and bring to full production.