Verisante Technology Inc V.VER

drk should move?

[poznanskapyra]

is this enough info to move this? could this be ver one day?

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Re: News Release - Tuesday, December 21, 2010
Lak Ranch Operational Update
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The Company is pleased to report that the refitted 50 MM BTU generator
is commissioned and has been operational for the past 10 days. The
refitting was completed ahead of the earlier announced time frame and
this has allowed reservoir steaming to commence.
Currently the generator is being run at a rate of 70 gallons per minute
which translates to 2,380 barrels of steam per day. Once the initial
shake down period is over, the generator will put out approximately
2,040 barrels of steam per day. This is almost a three-fold increase
over the old 25 MM BTU generator had a maximum capacity of 800 barrels
of steam per day. This enables the Company, for the first time, to
adequately steam the existing vertical wells to produce from the
reservoir.
Mr. Robert Hurkmans, the Company's COO and steam recovery expert, had
previously identified the lack of steam capacity as the main factor for
the lack of production response.
Mr. Hurkmans plans to steam into the reservoir until an ideal reservoir
pressure and temperature are achieved, and then start pumping the
Company's one horizontal and 8 vertical wells. Management currently
estimates this production to start in late spring 2011.
Mr. Hurkmans has over 37 years' experience in the oil industry and
specializes in improving the economics of tertiary recovery projects
(with an emphasis on steam flood technology) such as Derek's LAK Ranch
project. In past projects for major oil companies such as Occidental,
Arco and Shell, Mr. Hurkmans has reduced drilling costs and overall
operating costs by up to 30%. He has won the ARCO Award for his work
at Midway Sunset, the Shell Oil Company Award for his work at
Kernridge/McKittrick and was a finalist for the Occidental Engineering
Excellence Award in both 2001 and 2003 for his work at Elk Hills.
Derek Oil & Gas Corporation is a Canadian based, publicly traded oil
exploration and production company that utilizes enhanced oil recovery
(EOR) techniques to develop new production from reservoirs in North
America. Derek's current focus is on the further development and
increasing production from their prime property located in NE Wyoming's
prolific Powder River Basin.
Derek Oil & Gas Corporation is trading in Canada on the TSX Venture
Exchange with the symbol DRK
ON BEHALF OF THE BOARD
Mr. Barry C.J. Ehrl,
President and C.E.O.
For further information please contact Derek's Corporate Communications
Department at:
Telephone: [phone] or (604)-331-1757
Corporate E-Mail: [e-mail]
Website: https://www.derekoilandgas.com