RE: PetroGlobe Provides Update on Second Pembina CFinancial News
PetroGlobe Provides Update on Second Pembina Cardium Oil Well
Ft Lauderdale, Florida 4/10/2010 12:25 AM GMT (TransWorldNews)
PetroGlobe Inc. (TSX-V: PGB) has released the initial results from their second horizontal Cardium oil well. The company’s second well drilling in late February 2010 is currently producing about 215 barrels of oil per day. The well was completed in March 2010 with a 12-stage fracture stimulation. Not long after being put on production, PetroGlobe’s first Cardium oil well stabilized at 30 barrels per day.
PetroGlobe has also acquired over the last few months, 6 gross sections of multi-zone lands in Pembina. The company identified a potential of 6 net locations on the acquired acreage, doubling their existing Cardium locations in Pembina to 12 net horizontal locations.
PetroGlobe's focus is on high working interest, company-operated properties in Alberta, including Pembina Cardium light oil, Pembina Edmonton Sands natural gas and Sawtooth oil in the Grand Forks/Taber area of southern Alberta.
https://www.transworldnews.com/NewsStory.aspx?id=304327&cat=8
Looks like this stock might be taken out sooner then later