Kindersley Drill Program Begins The company released an nr this evening announcing the beginning of its Kindersley drill program. See below.
Have a good evening.
Invicta begins nine-well drill program at Kindersley
2012-09-17 18:00 ET - News Release
Mr. Gordon Reese reports
INVICTA ENERGY COMMENCES 9 GROSS (4.8) NET WELL DRILLING PROGRAM
Invicta Energy Corp. has commenced the third quarter/fourth quarter drilling program of nine gross (4.8 net) wells at Kindersley, Sask. (Lucky Hills). These wells will complete the planned 2012 drilling program of 20 gross (11 net) wells. Current field production is 325 to 350 barrels per day of light oil with total corporate production at 400 barrels of oil equivalent per day. Upon completion of the third quarter/fourth quarter drilling program, the company's exit production is estimated to be 625 to 675 barrels of oil equivalent per day (80 per cent light oil).
Invicta is positioned for growth with top-quartile operating netbacks and a drilling inventory in excess of 200 development locations on its low-risk light oil resource play at Kindersley. The company continues to work on a number of light oil prospects in central Alberta on its 49,587 gross acres (47,753 net acres), and looks forward to drilling and developing its next core area in 2013.