Atikwa well flow tests at 6.9 mmcf/dAtikwa's well flow tests at 6.9 mmcf/d at 620 psi
2009-09-10 09:35 ET - News Release
Mr. Sean Kehoe reports
ATIKWA MINERALS CORPORATION ANNOUNCES RESULTS OF EXPLORATORY NATURAL GAS WELL
Atikwa Minerals Corp. has participated in the drilling of a successful new pool wildcat, liquids rich, natural gas well.
Duringtesting, the well flowed at rates of up to 6.9 million cubic feet perday of raw gas (1,150 barrels of oil equivalent per day), at a surfacepressure of 620 pounds per square inch, and recovered a total gasvolume of 13 million cubic feet, over a period of 48 hours. The wellalso produced some oil during the test period.
The companybelieves the preliminary pressure test analysis is encouraging, and thewell appears capable of sustained high production rates, but will beproduced at a restricted rate of around one million to two millioncubic feet per day, subject to third party plant capacity.
Thecompany participated in a farm-in, with a private Alberta company, fora 25-per-cent working interest in the well. The well will qualify forthe "Alberta New Well Incentive Program," which provides a maximum5-per-cent Crown royalty rate during the first full year of production.
We seek Safe Harbor.