NU-Oil & Gas is awaiting regulatory approval to resume operations on PL2002-01(A) in Newfoundland, Canada.
It said PVF Energy Services (PVF) had mobilised all major equipment to the Garden Hill site, including the wireline unit for upcoming operations aimed at restoring production.
The full work programme had been submitted to the Department of Natural Resources and was under review. Upon approval it was expected PVF would begin operations promptly.
"As previously announced PVF have agreed to provide 100% of the financing for a work programme which will consist of two phases (Work Programme)," said NU-Oil & Gas.
"The first phase involves a wireline operation to clean up the PAP#1-ST#3 well and mill out a physical obstruction in the completion that is believed to have been restricting flow.
"The well will then be flowed for a period anticipated to be between 15 and 30 days to allow for reliable analysis and evaluation of the resulting production."
The company said that, subject to satisfactory results, a rig would be mobilised to site to undertake the second phase of the Work Programme, which would include recompletion of the well and installation of an appropriate artificial lift system.