operations update 2 Jul, page-27

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08/07/18

18:44

Post #: 34214496
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Originally posted by Yoshbox ↑

6 July 2018:
Our four recently completed wells on the Hovencamp pad are cleaning-up as expected with a continuously increasing rate of oil and gas production and the strong flow-back of the completion fluids used during hydraulic fracturing. As previously mentioned, the wells are being cleaned-up at a lower rate than on the previous Wilson wells in order to preserve pressure. However, all four wells are currently producing over 400 barrels of oil equivalent per day, while flowing at very high pressures of approximately 1,200 psi. The production rates are increasing steadily as the large amount of water used to hydraulically fracture the wells is removed. Oil is being trucked and sold, and natural gas is now being sold through temporary facilities while the construction of permanent facilities is being finalized. These four wells are still making over 1,400 barrels of water per day each as they clean-up. They are gradually being brought to full production rates to optimize long-term recovery, and we are pleased that they are performing well.

Additionally, our first two wells, the Wilson 1 and 2 that were temporarily shut-in for approximately 5 weeks during completion operations of the nearby Hovencamp wells, are returning to production as expected. Oil and gas volumes of the Wilson 2H well are back to pre-shut in levels of about 275 barrels of oil equivalent per day. The Wilson 1H well is much closer to the four new wells and therefore was impacted more significantly. It is still producing over 350 barrels of water per day, but is making 60 barrels of oil equivalent per day and improving each day as the water is removed.

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If oil replaces the water which could happen we are in for a bonanza.
WOW 1800 barrels each well.

FDM Price at posting: 28.5¢ Sentiment: Buy Disclosure: Held
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operations update 2 Jul, page-27

Top Stories

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Red Mountain Mining: record gold prices, two projects, two greenstone belts

Orthocell kicks off collagen-based dental bone repair product sales in Canada; eyeing next stop Brazil

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Shekel Brainweigh investor presentation webinar – the future of retail automation

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Laramide sniffs prime Kazakh uranium, with agreement over 6000 square km land position

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