XCD Energy: Realises hydrocarbon potential at Harpoon Prospect
- XCD Energy has received confirmation from Conoco Phillips that it has encountered hydrocarbons from drilling at the Harpoon Prospect
- This is encouraging news for XCD as Harpoon is located just 15 kilometres northwest of its Project Peregrine lease
- Unfortunately, the COVID-19 pandemic cut the drilling program short
- Nevertheless, the companies encouraged by this result and will reinitiate explorations in the near term
- This clearly provides us with necessary encouragement to reinitiate our farm-out campaign, Dougal added
- XCD’s shares are down 12.5 per cent, trading for 0.7 cents each