Pulse Oil Corp. Provides Operational Update 19/07
CALGARY, Alberta, July 19, 2021 (GLOBE NEWSWIRE) -- Pulse Oil Corp., (“Pulse” or the "Company”) (TSXV: PUL) announced today that Pulse’s reactivation program is continuing to advance using cash flow from operations. Pulse’s 15-04 well, located in the Bigoray area, is progressing on time and on budget. The 15-04 well uses an electrical submersible pump (“ESP”) to lift its oil and as part of our operations the ESP has been removed and sent to a third party to be inspected and serviced in advance of restarting production. Pulse expects the ESP to be run back into the well next week, with production operations starting immediately following to Pulse’s 100% owned production facility.
Pulse CEO, Garth Johnson commented, “Our team is working hard and getting things done. We are really interested to see how this reactivation works out and then we will move on to additional reactivations. When we circulated the 15-04 well prior to removing the ESP, we recovered approximately 90 barrels of light oil and only trace water. This appears to be a promising sign and we believe 15-04 will be a good producer for Pulse, allowing us to keep moving forward with additional reactivations and building cashflow.”