RE: 14 oil wells.
EXALL ENERGY CORPORATION RE-ESTABLISHES PRODUCTION IN THE SLAVE LAKE AREA
CALGARY, June 02, 2011: Exall Energy Corporation ("Exall" or the "Company") (TSX:EE) is pleased to provide an update on its Marten Mountain operations in the wake of the fires in and around Slave Lake Alberta. Exall's public filings can all be found at www.exall.com or www.sedar.com.
Highlights:
? Production has been re-established to pre-fire levels of approximately 1,435 boe per day,
? Summer capital program to include up to 7 gross (5.0 net) wells through Q3, and
? Exall debt facility has been increased to $23,000,000, effective June 1, 2011.
Current Production
|
With the return of the residents to the town of Slave Lake, Exall’s production has returned to pre-fire levels. Exall’s current average daily production is in the order of 1,435 boe/d as outlined below:
Field
|
June 02, 2011
Production Estimate
|
June 02, 2011
Capability*
|
|
boe/d
|
boe/d
|
|
Marten Mountain, Alberta
|
1,333
|
1,798
|
|
Jayar, Alberta
|
76
|
76
|
|
Overlea, Alberta
|
16
|
16
|
|
Harris Texas
|
9
|
9
|
|
Bow Island, Alberta
|
1
|
1
|
|
Corporate Total
|
1,435
|
1,900
|