12:16 PM EDT, 06/04/2025 (MT Newswires) -- BGX-Black Gold Exploration ( BGXCF ) on Wednesday said its flagship Fritz 2-30 oil well in Clay County, Indiana, is now producing.

Through its joint venture with LGX Energy, BGX rapidly advanced the Fritz 2-30 well from seismic, to permitting, to drilling to production "at a pace that is rare for junior oil and gas companies," according to a company statement.

Detailed data on production figures and reserves will be released in the coming weeks, according to BGX.

"We are now a production company in the heart of the Illinois Basin" said chief executive Francisco Gulisano. "This is just the beginning. We are now positioned to scale methodically one formation at a time with real production, real data, and real returns."

The company's shares were last seen up $0.015 to $0.19 on the Canadian Securities Exchange.

Price: 0.19, Change: +0.02, Percent Change: +8.82