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Winchester Energy Limited (ASX:WEL)

ALERT: Price-sensitive ASX Announcement for WEL
Current share price for WEL : $0.002 -0.001 (-25%)+
Announcement
Release
30 Apr 2026 9:59AM
Price at Release
$0.002
Full Release
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Summary
Winchester Energy Limited reported a quarterly working interest net revenue of AUD$350,170 (US$240,567) for the period ending 31 March 2026, with an average production rate of 63 barrels of oil equivalent per day. The company successfully drilled the JVU-4 injection well at the Varn waterflood project in Texas. They are focusing on cost reduction and planning to drill additional wells in the coming years. Cash flow from operations showed a net decrease of USD $47,000, with significant expenditures on exploration and maintenance. The company is also participating in a joint study in Indonesian waters and has secured commitments for additional funding. Winchester's estimated cash available for future operations is USD $284,000, covering approximately 1.5 quarters, and anticipates improved cash flow due to higher oil prices.
Key Points
  • Quarterly net revenue of AUD$350,170.
  • Production averaged 63 boepd.
  • JVU-4 injection well drilled at Varn waterflood project.
  • Focus on cost reduction and disciplined capital allocation.
  • Participating in joint study in Indonesian waters.
  • Secured AUD$500,000 funding commitments from CEO and shareholder.
  • Cash flow decrease of USD $47,000 during the quarter.
  • Estimated cash available for 1.5 quarters.
  • Anticipated improved cash flow from higher oil prices.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.