seeking to understand Thats what i am doing. Such great news and so little initial market impact. So, this small brain of mine thinks maybe the Fact Fen has struck oil has not really made the news yet. The company presentation while very cool is viewed only by those with FEN on their radar. This blog on a good day may get 200 views. Hardly a wide disemination of information. I am thinking the news will follow in the comming weeks as evaluation of inflow and pressure are completed.
The BlackShale Resources’ pilot well (01-16-12-29W4) was rig released
December 20, 2012.
• This vertical well was drilled through the base of the Mannville formation to
evaluate multiple zone targets
Second White Specks completion was initiated on February 11, 2013
• The well was perforated and the in situ formation permeability was tested
• The well was then stimulated and flow back currently is on-going
• It is anticipated the stimulation flow back will continue for a number of weeks
and then a decision will be made if artificial lift installation for a longer term
production test is warranted
• Should an extended production test be run, the well will be shut in to obtain
initial reservoir pressure measurements and additional stimulated
permeability values prior to returning the well to production
Based on these results a decision will be made on the timing of additional
(vertical and/or horizontal) wells
After completion of this well BlackShale Resources will earn a 70% working
interest in 4 sections of Forent’s 29 section land block