Last year, Fortunate Energy was formed to acquire and exploit the EJ Robicheaux lease in St Mary Parish in the US state of Louisiana.
The lease is approximately 20 acres with an 80-acre option and consists of five oil wells and one salt water disposal well.
The wells, which were all drilled in the early 1980s, are about 1,200ft deep, and initial production varied between 9.7 barrels of oil per day and 36 barrels of oil per day.
In 2007, the wells were shut-in, and Fortunate Energy has invested significantly in equipment and infrastructure in order to bring the wells back online.
