Australia's Citation hits strikes oil in Guatemala well

Australia's Citation Resources is producing up to 50 barrels of oil a day in its Guatemalan well Atzam-4.

However, the operator of the well and subsidiary of Citation, Latin American Resources, reported a drop in production due to unexpected gas production.

Atzam-4 is thought to have potential to produce some 2.3 million barrels, according to Ralph E Davis and Associates.



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