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Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s):  CRLFF

Cardinal Energy Ltd. is a Canadian oil and natural gas company with operations focused on low decline oil in Western Canada. The Company is engaged in the acquisition, development, optimization and production of crude oil and natural gas in the provinces of Alberta, British Columbia and Saskatchewan. Its operating areas include the Midale, South District, Central District, and North District. Its Midale operating area of over 730 million barrels of original oil in place (OOIP) and its low decline in production of 3,200 barrels of oil equivalent per day (boe/d) (net) is supported by both waterflood and CO2 enhanced oil recovery. Its South District operating area is located east of Calgary in southeastern Alberta and produces medium gravity crude, as well as liquids-rich natural gas. Its Central District operation is located in East Central Alberta, which is focused on producing oil from multiple, large OOIP pools. Its North area includes Grande Prairie, Clearwater and other properties.


TSX:CJ - Post by User

Post by largeinveston Dec 19, 2018 9:57am
109 Views
Post# 29134117

One of my other favorites PUL.v hits oil!

One of my other favorites PUL.v hits oil!

PULSE OIL CORP. ANNOUNCES FIRST WELL DRILLING OPERATIONS COMPLETED AT QUEENSTOWN LIGHT OIL FIELD

Pulse Oil Corp.'s first exploration well, PUL HZ QUEENSTN 16-15-19-21 W4, has now reached a total measured depth of 3,322 metres (true vertical depth of 1,373 metres), including 1,282 metres of lateral section cased with frac ports in preparation for completion. The lateral section successfully targeted a new 3-D (three-dimensional) seismic interpretation intended to focus on the highest porosity/permeability lithic deposits within the Mannville-aged channel trend in the Queenstown area of Southern Alberta.

This first well was spudded on Dec. 6, 2018, and took 10 days to complete drilling operations as planned. The indicative results of this first well has led the company to commit immediately to a second well; the Nabors No. 28 drilling rig will now be repositioned on the same surface location and will begin drilling operations on the second Pulse well within the next few days. Once both wells have been drilled, the drilling rig will be released and multistage frac operations will be conducted. The wells are expected to be completed and tested in January with new production established immediately in the first quarter of 2019.

Drew Cadenhead, president of Pulse, commented: "Our first new well as a company has drilled nearly 1,300 metres of horizontal section through what we interpret as the best-quality reservoir envisioned. Our new seismic interpretation has put us into the high-porosity lithic sandstone section we were hoping for, with visual drill-cutting porosities measured consistently up to 18 per cent. The entire lateral section is oil stained, we are excited about completing an approximately 15-stage frac job on this first well. The discovery also gives us great confidence in the second well, 12-9, about to be drilled down the heart of this same reservoir but in the opposite lateral direction from the first well. Drilling operations on the 16-15 well were completed safely, on time and on budget.

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