11:11 AM EDT, 03/18/2024 (MT Newswires) -- MCF Energy Ltd. ( MCFNF ) was at last look on Monday rose 13.2% after reporting a potentially significant gas and condensate discovery at the Welchau-1 well in Austria.

The well encountered 115 meters of rich gas shows between 1,452 meters and 1,567 meters with "strong" evidence of natural fracturing, essential for gas production performance.

A hydrocarbon seal was confirmed above the primary target, mitigating a major risk with the project, the company said.

Above the primary target, drilling encountered a 380-meter section of the Lunz Formation, which has effectively trapped gas and condensate.

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