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Cost to drill, complete and develop circa US$1 100 000 net, including back costs of US$236 800. “The recent success at Moccasin has been a catalyst and Union Jack is now entering into a period of sustained activity in Oklahoma, where we have every reason to be confident following the Boards decision to expand operations into the US.”
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Lotfy noted that all performance and operational tests for the new production units have been completed, while rehabilitation work on several existing production units has also been completed. He praised MIDORs contributions to hard currency earnings, local market stability, and sustainable growth.
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