Talon Petroleum Limited (ASX: TPD) (“Talon” or “Company”) is pleased to announce
that during the first two months of production the Quintanilla OL 1H produced 21,766
boe (18,592 bo +19,040 mcf) on restricted chokes. The current production rate is 464
boepd (388 bopd +456 mcfd) on a 13/64 inch choke.
Periods showing no production are due primarily to paraffin accumulation in the choke
manifold as a result of cold weather. Cliff Foss, President and CEO stated that “we
are extremely happy with the excellent well performance during the first 60 days of
production while on the restricted chokes. We are particularly excited that the original
2900 psi flowing casing pressure has only declined to 2000 psi after producing 21,766
boe during the first 60 days. Although it is early in the well’s productive life, the
pressure data continues to remain extremely encouraging”.
The company has a 10% working interest in this lease and holds a 100% working
interest in 3600 acres adjoining the Quintanilla lease, subject to third parties options to
acquire collectively a 50% WI.
TPD Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
