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Texalta Finds New Oil Pool In Saskatchewan...
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Texalata finds new oil pool at East Wordsworth
2006-06-12 14:55 ET - News Release
Mr. William Nixon reports
TEXALTA PETROLEUM LTD.: WORDSWORTH AREA, SASKATCHEWAN: NEW POOL DISCOVERY
Texalta Petroleum Ltd. confirms an extraordinary discovery for the company -- a new Alida oil pool at East Wordsworth in Saskatchewan. The Texalta et al. Wordsworth East HZ 2A2-23-4B11-14-7-3 W2 well reached total horizontal depth of 2,033 metres, encountering approximately 300 metres of potential oil pay in the horizontal section.
Production testing began on June 7, 2006, and, on June 8, 2006, with the end of tubing set at 1,600 metres in the horizontal hole, the well flowed oil at a rate of 4.4 cubic metres (28 barrels) per hour for a sustained period of three hours. On June 9, 2006, with the tubing set at 1,274 metres in the intermediate casing string, the well flowed at a rate of 3.8 cubic metres (24 barrels) per hour. Insignificant amounts of brackish and fresh water were encountered, which were not formation water.
On Friday, June 11, 2006, the well was completed as a flowing oil well producing at a rate of 3.0 cubic metres (19 barrels) per hour against an eight-64th-inch choke. The above flow rate is equivalent to 456 barrels of oil per day. Significant associated gas accompanies the oil production and a market for the associated gas is present at the nearby Carlyle Alida pool (Section 35-7-3 W2M), a distance of about 2.5 miles away.
Texalta holds a 47.50-per-cent working interest in the East Wordsworth project area and is the operating partner. The project area covers 1,920 acres of both Crown and freehold mineral leases. The company is planning additional seismic work and further drilling in the project area as soon as practicable, with the expectation of substantial production increases from the Alida pool, which may contain up to four million barrels of oil and associated gas.
In addition to the foregoing, Texalta has recently completed two other seismic surveys in the region in order to firm up drilling locations for other joint venture projects in the greater Carlyle Queensdale area of Saskatchewan.
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