MCF Energy: Welchau Gas Prospect Drilling Update

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[{"type":"text","content":"\n \n \n \n MCF Energy: Welchau Gas Prospect Drilling Update\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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; FONT-SIZE: 8PT; FONT-FAMILY: ARIAL; COLOR: BLACK; MARGIN:0em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Promising Trip Gas Shows and Evidence of Fracturing in Early Drilling: MCF Energy Ahead of Schedule in Austrian Gas Exploration\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 11, 2024\n \n \n /CNW/ - MCF Energy Ltd. (TSXV: MCF) (FRA: DC6) (OTCQX: MCFNF) (\"MCF\", \"MCF Energy\" or the \"Company\") is pleased to announce a progress update on the drilling of the Welchau-1 gas exploration well in\n \n Austria\n \n . The well successfully reached a depth of 1155 metres on\n \n March 10\n \n , advancing approximately 4 days ahead of its scheduled timeline. Minor hydrocarbon shows and fracturing patterns suggest the presence of hydrocarbons in deeper formations, and are evidence of an active petroleum system at the Welchau-1 well location. Drilling to the main target is underway with completion and evaluation anticipated by month end.\n \n \n Initiated on\n \n February 24, 2024\n \n , the Welchau-1 well aims to explore the Welchau gas prospect, noted for its significant gas potential. Located centrally in\n \n Europe\n \n , this prospect benefits from its shallow drilling requirements and proximity to existing gas pipelines. It targets reservoirs analogous to those discovered by the nearby Molln-1 well, which confirmed gas presence in 1989. MCF Energy will fund the Welchau-1 well costs up to 50% of the cap of\n \n EUR 5.1 million\n \n to earn a 25% economic inte...

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