MCF Energy Ltd. (TSXV: MCF) (OTCPK: MCFNF) announced in a press release today a potentially significant gas and condensate discovery at the Welchau-1 well in Austria. MCF Energy is the first modern public company to consolidate large-scale exploration opportunities in Western Europe.
The Welchau prospect, spanning over 100 square kilometers, is strategically located near pipelines, offering a direct route for gas transportation. It also boasts numerous potential drilling sites, enhancing the project’s flexibility and potential for future expansion.
CEO and Director of MCF Energy, James Hill, stated, “The results we have seen after entering the target zone are exactly what we had hoped for in a gas discovery well. The discovery of gas and hydrocarbons in the massive Welchau structure could be a game changer for Austria in the struggle for energy security and independence.”
Canadian shares were trading at $0.31, up approximately 17 percent, in afternoon trade.
Copyright © 2024 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com’s content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
]]>