“In recent weeks, gas production at QGC’s Berwyndale South-9 well has soared to 818,000 cubic feet per day (cfd) and to 520,000 cfd at the Argyle-11 well. This level of performance will have the dual effect of bringing forward the certification of additional gas reserves, and reducing the costs of developing the Berwyndale South and Argyle Fields,” said a company statement.
QGC’s share price has risen 51 % this year to close at 38.5 cents yesterday.
240,000 shares in QGC were issued subject to the terms of the company’s deferred employee share plan along with cash payments of $35,000.
Of these amounts, managing director Richard Cottee received 100,000 shares and $25,000 cash.