Nov 4 press releaseI recently re-read the Nov 4 press release describing their new Wabamun discovery. They have stated in 2 well that the oil in place is 9.5 million per section and 26 million barrels in place on their second well. The porosity in the first well was 9 meter and the second one was 12.9 meters. The interesting thing is that they have already drill a third well with the porosity of 20 meters. that is almost double the other 2 wells.
Six exploratory wells targeting the Wabamun and Exshaw will be drilled throught the next two quarters, the first of of which has already been drilled, cored and logged. Preliminary core analysis shows 20 meters of oil saturated porosity in the main Wabamun zone
If the other criteria are similar to second well there could be 40 million STB of oil in place per section
huge!!
lets hope for another press release before year end giving us some good news.
Life Learner