Post by
toasted101 on Nov 22, 2011 10:31am
Primera Energy's PS 266RD well producing 119 bbl/d
Primera Energy's PS 266RD well producing 119 bbl/dPrimera Energy Resources Ltd (C:PTT)Shares Issued 57,114,750Last Close 11/14/2011
.15Tuesday November 22 2011 - News ReleaseMr. Geoffrey Leid reportsPRIMERA ENERGY RESOURCES LTD. (TSXV:PTT) ANNOUNCES CORPORATE UPDATE ON BLOCK WD-4 DRILLING PROGRAMPrimera Energy Resources Ltd. has provided a corporate update.Optimal block WD-4PS 266RD, the first well drilled during the current drilling campaign, has been completed, initially in 131 feet of net pay between 5,053 feet and 5,312 feet in the Lower Forest formation. The well was put to pump and is currently producing 119 barrels of clean oil per day. Approximately 139 feet of net pay in the Upper Forest formation remain to be exploited.The service rig has moved on to PS 111RD, the second well in the drilling program. This well found 295 feet of net pay in the Forest and Cruse formations and is being completed, initially in 45 feet of net pay in the Upper Cruse formation.Production results for PS 111RD will be provided as soon as they become available.Work is continuing on location preparation for PS 174RD, which shall target the underexploited Cruse formation, and an infill/replacement well to PS 125 will also be drilled.We seek Safe Harbor.
Comment by
dano12 on Nov 22, 2011 12:34pm
Yeh, the good news keeps coming out of Trinidad.Another well to be tested soon and Parex is going back in soon to re-drill the Firecrown well.I've heard they will likely declare commerciality on the block after a few more wells are drilled on Moruga.Nothing but good news, hopefully will be reflected in the share price soon.
Comment by
geodude13 on Nov 22, 2011 9:07pm
Yes this news and the thought that parex is reinvesting in Firecrown makes for some really exciting opportunities. Looking forward to the parex news as Parex seems to have more visibility in the market.