MCF Energy Updates on Austrian Operations

About this update from Mcf Energy Ltd

[{"type":"text","content":"\n \n \n \n MCF Energy Updates on Austrian Operations\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 March 20, 2023\n \n \n /CNW/ -\n \n MCF Energy Ltd\n \n . (TSXV: MCF) (FRA: DC6) (OTCPK: MCFNF) (\"MCF Energy\" or the \"Company\") is pleased to provide an update on its Austrian operations, specifically regarding its well permitting and planned spudding at the Giant Welchau anticline. Permitting is progressing ahead of schedule with Spudding anticipated during the first half of\n \n September 2023\n \n .\n \n \n \n James Hill\n \n , CEO of MCF Energy, stated, \"The Welchau prospect could potentially hold an 644.6 BCFE (107 MMBOE) equivalent best mid-case prospective resource, with 20% belonging to MCF.\n \n \n \"The prospect is located up-dip from a 1989 gas discovery (Molln-1 well), which had a gas column of at least\n \n 400m\n \n and tested condensate-rich, pipeline quality gas at a maximum flow rate of 3.5 mmcfpd. A successful outcome at Welchau could be a significant catalyst for MCF Energy given the size of the Welchau anticline.\"\n \n \n \"In addition, the company is rapidly concluding the acquisition of Genexco -\n \n Germany\n \n and its portfolio of exploration and development assets.  The MCF interest is carried in the first well for up to €5M Euro on conclusion of the Genexco acquisition. This will mark the second near-term drilling catalyst in\n \n Western Europe\n \n this year.\"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n About MCF Energy\n \n \n \n MCF Energy was established in 2022 by leading energy executives to strengthen\n \n Europe's\n \n energy security through responsible exploration and development of natural gas resources within the region. It has secured interests in two significant natural gas exploration projects in\n \n Austria\n \n and\n \n Germany\n \n and is evaluating additional opportunities. The Company's leaders have extensive experience in the European energy sector and ...

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