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MCF Energy Secures Significant Concession Adjacent to Historic German Gas Discovery
MCF Energy Secures Significant Concession Adjacent to Historic German Gas Discovery Can...
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[{"type":"text","content":"\n \n \n \n MCF Energy Secures Significant Concession Adjacent to Historic German Gas Discovery\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 2, 2023\n \n \n \n /CNW/ -\n \n MCF Energy Ltd.\n \n (TSXV: MCF) (FRA: DC6) (OTCQX: MCFNF) (\"MCF Energy\" or the \"Company\") is pleased to announce the successful acquisition of a substantial natural gas exploration concession (\"Lech East\") spanning approximately 100 km² in Southwest Bavaria,\n \n Germany\n \n , granted by the Bavarian State Ministry of Economic Affairs, Regional Development and Energy for an initial term of three years. Lech East is adjacent to another 10 km² concession (\"Lech\"). In a previously drilled well at Lech, a remarkable flow test rate of over 20 million cubic feet per day of gas was recorded. MCF Energy's subsidiary, Genexco GmbH, holds a 20% carried interest at Lech and plans to start drilling an offset development well in Fall 2023. The Company considers Lech (20% to MCF Energy) and Lech East (100% to MCF Energy) as key prospects for\n \n Germany's\n \n energy security.\n \n \n \n \n \n Highlights:\n \n \n \n \n \n \n Lech East, a 100 km² natural gas exploration concession in Bavaria,\n \n Germany\n \n , has been granted to a wholly owned subsidiary of MCF Energy.\n \n \n \n \n Modern 3D seismic interpretation, aided by machine learning and AI, has yielded promising prospects, offsetting significant historical gas and oil discoveries.\n \n \n \n \n Over 20 million cubic feet per day of gas was tested at the Kinsau #1 well at Lech in 1983; MCF Energy is fully carried for a 20% stake up to\n \n EUR 5 million\n \n in a well at Lech to be drilled later this year.\n \n \n \n \n Lech and Lech East benefit from excellent accessibility and infrastructure.\n \n \n \n \n MCF Energy plans\n \n EUR 4.6 million\n \n exploration program at Lech East, including well drilling.\n \n \n \n \n \n In 1983, Mobil drilled the Kinsau #1 well to a depth of 3940 metres, where it encountered basement rocks. Gas and c...