RE: Well ResultsCALGARY, ALBERTA--(Marketwire - Aug. 5, 2010) -
THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED
STATES, TO UNITED STATES NEWS WIRE SERVICES OR TO UNITED STATES PERSONS.
Torquay Oil Corp. (TSX VENTURE:TOC.A) (TSX VENTURE:TOC.B) ("Torquay" or the
"Company") is pleased to provide an update on for our recent activities in
southeast Saskatchewan.
Anyone like to comment on this latest Torquay press release?
Lake Alma
Torquay has recently completed the drilling of its fourth Bakken commitment
well in the Lake Alma area and as a result has earned a total of 81 gross
(49 net) sections of lands.
Torquay has completed two wells thus far in the Lake Alma area. The
13-19-1-17W2 exploratory well was completed using an 11 stage fracture
stimulation. Due to a geological fault encountered while drilling, only 600m
of Bakken reservoir was completed. Torquay is very encouraged by the well
performance given the limited amount of reservoir open. The 13-19 well has
produced an average of 80 bbls/d gross (48 bbls/d net) of 39 degrees API oil
in the first 22 days of production. Torquay has also recently completed the
13-10-2-18W2 well and has placed the well on production after a successful
16 stage fracture stimulation. Torquay is currently evaluating the
production capability of the 13-10 well. The 4-25-2-20W2 well and the
4-4-2-19W2 well are scheduled to be fracture stimulated and evaluated in Q3
of 2010.
Torquay has licensed an additional four development locations and expects to
drill one of these locations by the end of Q3 2010. With the planned
drilling of the fifth well, Torquay will earn an additional 5 gross (3 net)
sections bringing the total lands earned to 86 gross sections (52 net
sections) of land in the Lake Alma area.
Viewfield
Torquay is currently drilling its first Bakken development well in the
Viewfield (Heward) area at 10-13-8-10W2 and expects to reach total depth in
about a week. Pipeline construction is underway to tie-in gas and NGL's from
the Company's two producing Bakken wells in this area and is expected to be
completed by the end of August. A second Bakken well is scheduled to be spud
mid-August and completed in September. Both wells are expected to be on
stream by the end of Q3 2010.
Torquay intends to drill its first horizontal well targeting the
Frobisher/Alida zones in the Viewfield (Heward) area, in late Q3 or early Q4
2010. With success in the Frobisher/Alida, Torquay has identified up to 12
additional drilling locations on its 100% working interest lands.