More details on Princess areaFrom RME's partner at Princess.
Princess, Southern Alberta, focus area
Since July, 2002, the company's operations in the Princess area have yielded four Pekisko oil wells and one Pekisko gas well, representing a 100-per-cent success rate. Prior to year-end, Gentry will drill three additional Pekisko prospects which have been identified on recently acquired 3-D seismic surveys. All three of these locations are situated along a geologically defined hydrocarbon trend and immediately offsetting established Pekisko oil production. During the first six months of 2003, Gentry plans to drill an additional 12 wells targeting the oil-prone Mississippian-aged Pekisko formation and at least two wells testing the gas-prone Devonian-aged Nisku formation.
Initial production from the first two Pekisko oil wells commenced in September with each well producing to a temporary single well battery. These wells have now been tied in to a partner-operated oil battery with all the solution gas being sold to a mid-stream gas processor. The remaining two oil producers are currently producing to single-well batteries. These wells will also be tied into the larger oil battery infrastructure in the coming weeks. One well is producing at an EUB initial allowable of 120 boe/d and the other is expected to average 50 boe/d. Gentry has made good production practice applications on the summer drilled oil producers.
Gentry's proposed Princess gas plant is nearing the final stages of approval with the Alberta regulatory authorities. The approval process has gone smoothly since an objection by a third party was withdrawn, and the company anticipates having the plant up and running during the first quarter of 2003.
Gentry's land picture continues to grow throughout the Princess area and will remain a key focus for capital expenditure and exploration efforts over the next 18 months.