Both wells are now in production and are together producing a gross 85 barrels of oil per day.
Carpathian paid the cost of establishing production at Krasna and will enjoy a 75% net revenue interest until payout decreasing to 50% after payout.
Ownership after payout will be Nord Gas Ostrava s.r.o. 50%, a 100% subsidiary of Carpathian Resources Limited, and Unigeo (operator) 50%
The Krásná oil field was discovered and tested just prior to the end of communist rule in what was then Czechoslovakia. Crude oil is contained within Devonian carbonates at a depth below the surface of about 1,600m.
According to Czech Government estimates the field contains 236,000 barrels of recoverable oil reserves and has produced around 27,927 barrels during testing.
