Talon Petroleum Limited (ASX: TPD) (“Talon” or “Company”) is pleased to announce that an Initial Production test of 986 boepd has been achieved from its Quintanilla OL 1H well. The well was connected to well test equipment for flow back operations on 10 October 2014.
Talon has been testing the well for approximately 76 hours on various choke sizes with a maximum reported rate of 744 bopd, 1,452 mcfd (986 boepd), 1,800 bwpd on a 22/64 inch choke with a flowing casing pressure of 2,700 psi.
This peak rate was achieved over a 2-hour period in response to adjusting the choke size. The-24 hour test prior to peak production was approximately 886 boepd. The well was drilled to a total measured depth of 13,555 feet (8,958 feet TVD) on 21 August 2014 and was drilled with a 4,286 foot lateral into the Olmos sandstone formation.
The Company has a 10% WI in this lease and holds a 100% WI in 3,600 acres adjoining the Quintanilla lease, subject to third parties’ options to acquire collectively a 50% WI.
Talon President, CEO and Managing Director, Mr Clifford Foss stated: “This well result is a great success for Talon shareholders. We have 15-30 additional horizontal locations identified by 3D seismic data with the potential to add additional locations within our current lease holding. We believe significant value was created with this test well and have begun planning for the follow-up delineation wells.”
TPD Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
