The company encountered oil flow from the wells which were spud as a part of multi-well recompletion and exploration program.
Titan recompleted the first well Reese #5 located on the northern flank of Allen Dome and encountered initial oil to the surface, and is expecting the well to produce oil at a rate of 30 barrels per day or more.
The company also drilled the second well Reese #2a which flowed at a higher rate from the current zone.
Titan Energy is planning to spud Reese #4c and Reese #6a wells once it completes Reese #5 well.
The company is also planning to move ahead with its five well drilling exploration program at the Allen dome and spud the first well.
Titan Energy managing director Steve Thomas said the company has achieved recompletion of two wells and is planning to progress with drilling of a new exploration well at the Allen Dome oil fields.
"This is a very pleasing initial result for Titan Energy and its shareholders and it validates our strategy of identifying proven, low cost onshore US opportunities which can be revitalised with modern technology and ideas and provide early cash flow," Thomas added.
