Alston oil well produces 670.4 bopd at Alexander
2010-12-07 07:24 PT -News Release
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Mr. Don Umbach reports
ALSTON VENTURES INC. ANNOUNCES PRODUCTION TEST UPDATE
AlstonVentures Inc. has released test results for the company's firstdrilling operation at Alexander, Alta., as announced in a prior releasein Stockwatch Dec. 1, 2010.
The new oil well has been tested over a two-day period using swabbingequipment and in the last 7.48 hours of testing, the well produced, 209barrels of oil and 8.09 thousand cubic feet of gas yielding a rate of670.4 barrels of oil per day and 26.0 thousand cubic feet of gas perday, extrapolated over a 24-hour period.
Subject to regulatory approval, the operator expects to have the newwell equipped and on stream prior to the end of the year. The new wellis expected to produce under pumping conditions at an initial rate of200 barrels per day of oil and 7.75 thousand cubic feet of gas per day.Alston owns a 15-per-cent working interest in the well.
Alston has identified five to six follow-up locations on its landtargeting this same high-quality development oil pool. Alston'sparticipating interests are 15 per cent in the offset locations.