OEL’s second well in the Hilcorp drilling program, Green#1, has intersected a significant hydrocarbon column exceeding pre-drill estimates. The well has been completed as a producer and will be tied into a nearby pipeline and will be put on production by the end of March 2019. OEL is about to spud the Winx-1 well in Alaska and will also be drilling the third well in the Hilcorp program. We maintain our BUY recommendation, and we have upgraded our price target to $0.13 (prior $0.09).
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