Petro One Energy Corp CUDBF

"AHEM" CHOKE

[JohnnyQue]

Test work conducted on the initial two wells (10A-15 and 11-15) during late 2011 indicated the need for an artificial lift system and the use of a wax inhibitor, as well as careful monitoring of casing and tubing pressures. As a result, testing of the remaining wells was temporarily suspended during the late fall until 10A-15 could be further evaluated and provide guidance for testing production from the other four wells. The resolution of the technical issues at 10A-15 has served as a guide to complete and production test the other five wells, all of which are now online and operating smoothly.