Energean reports commercial find at Zeus well, upgrades Athena reserve

Energean said its Zeus-01 exploration well off the coast of Israel had made a commercial gas discovery of 13bn cubic metres of gas and it was now conducting post-well analysis of the find.

It added that an audit of its Athena discovery had upgraded reserves by 3 bcm to 14.75bcm after post-well studies of drilling data.

"The results from the Zeus well and the Athena post-well analysis provide Energean with additional confidence about the volumes and commerciality of the Olympus area, and the company is now progressing its field development plan," the company said on Monday.

Energean said it expected to update the market on the total resource volumes within the Olympus area, taking into account the uplifted volumes in both Zeus and Athena, in early 2023.

Reporting by Frank Prenesti for Sharecast.com