Production increased by 94% from the third quarter to 189,700 barrels of oil. The company said that this increase was driven by sustained higher production rates from the recent development drilling in Stuart’s 70%-owned Worrior Oilfield.
Tino Guglielmo, managing director of Stuart Petroleum, said: Production is up, reserves are up and oil prices are up. The Cooper Basin is delivering the cash to fund our portfolio of growth projects in the Gippsland Basin, Angola and the Port Bonython Fuels business.
