Silvermere Energy re-opens production from Mustang Island field

LONDON (ShareCast) - Silvermere Energy, an independent oil and gas company with assets in the Gulf of Mexico, said Tuesday that production and sales of oil and gas from its Mustang Island 818-L field have now recommenced following the repair of the main interconnect pipeline operated by Exxon Mobil.

The repairs were completed on January 5th and the sales line from the field was re-opened on January 7th.

In a statement the group added: "With production re-established, the clean-up of the I-1 well will continue and an indication of likely sustainable commercial flow rates is expected to be available after a few weeks of continuous production."

The share price rose 9.23% to 8.88p by 13:46.