Pekisko results keep proving that it is very OILY POOL. I quote the new results below.
I still believe they must make a JV for their 110,000 NET acres Pekisko position.
Additionally, Waterflood works in Pekisko as it has been working for Crew Energy and Provident Energy.
I wish they could start a waterflood for Beaverhill Lake too which works fine for Arcan....
In addition to the ongoing water flood pilot, the Company drilled and completed its first dual leg horizontal well in the Judy Creek Pekisko reservoir at the 04-19-063-09W5 (04-19) location late in the fourth quarter of 2012. Although a down hole tool failure resulted in the Company being able to stimulate only one of the two horizontal legs the 04-19 well tested at rates of approximately 50 bbl/d of medium grade oil and 240 mcf/d of natural gas for an aggregate test rate of 90 boe/d over the first 30 producing days. Taking into account the incomplete stimulation the tested production rate represents a significant improvement to past rates achieved on the play. The Company believes that that this new drilling and completion technique represents a significant economic improvement to completion and drilling methodologies previously used.
In addition to its initial production test from the 04-19 well the Company concurrently initiated water injection in the Pekisko formation at the 02-24-063-10W5 well located approximately 150 meters south of the 04-19 well to create its first close proximity water flood pilot in Judy Creek . Previous pilot spacing between horizontal water injector and horizontal oil producer was approximately 600 meters. Although still in its infancy the near proximity water flood pilot at 04-19 will provide valuable information to help the Company optimize its full cycle development plan for the Judy Creek Pekisko pool. The Company's Pekisko development footprint as booked within itsyear end 2012 reserves represents approximately 6.2 total sections of development at 8 wells per section, or approximately 8% of the total Judy Creek Pekisko oil pool as internally mapped by Second Wave.