PUL Announces AER Approval for Bigoray EOR Pulse Oil Corp. Announces AER Approval for Bigoray EOR
VANCOUVER, British Columbia, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Pulse Oil Corp., (“Pulse” or the "Company”) (TSXV: PUL) is pleased to announce that the Company has received Final Approval from the Alberta Energy Regulator (“AER”) to move forward with the Company’s Bigoray Enhanced Oil Recovery (“EOR”) project, located in Alberta.
Pulse is also happy to announce that the final facility construction and commissioning operations are completed at Bigoray with the solvent injection about to be initiated into Pulse’s two Nisku Pinnacle Reefs. At the time of this announcement, Pulse estimates that solvent injection will start on or about December 7, 2022.
Pulse’s CEO, Garth Johnson commented “Receiving Alberta Energy Regulator Final Approval for our EOR program is a significant hurdle to have cleared, one of the final steps remaining before we can begin actual injection into our reservoirs.”
About Pulse
Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) that is primarily focused on a 100% Working Interest Enhanced Oil Project Located in West Central Alberta, Canada. The project includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years. The Company plans to institute a proven recovery methodology (NGL solvent injection) to further enhance the ultimate oil recovery from these two proven pools. With under 10 million barrels of oil recovered to date, and representing approximately 30% recovery factor from the pools, Pulse is moving forward to execute the EOR project and unlock significant value for shareholders. Pulse’s total reclamation liabilities are just $2.46 million which, when compared to many peers in the industry in Western Canada, are very low.