GREY:CUDBF - Post by User
Post by
MurrayMacon Nov 03, 2014 4:56pm
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Post# 23090025
J10 PROSPECT....
J10 PROSPECT....From the September 18, 2014 MD&A......
Petro One's J10 prospect consists of 1 section of Crown Land adjacent to the Midale-Frobisher oil field owned by ARC Resources Ltd. In 2012, the Company signed a farmout and royalty agreement with ARC that called for ARC to drill an earning horizontal well in the Frobisher by March 31, 2013. ARC's earning well went on production December 28, 2012, with a three month average initial production of 96.3 barrels of oil per day (9.63 bopd for Petro One's 10% GORR) Total production from the farmout well to July 31, 2014 is 21,030 bbl (2,130 bbl for Petro One's share), and average production from May 1, 2014 to July 31, 2014 is 17.8 bopd (1.78 bopd for Petro One's share).