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CALGARY, Alberta, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSXV:SPI) (OTCBB:CSPUF) is pleased to announce the reactivation its joint venture natural gas processing facility and the ongoing reactivation of the associated wells at Farrell Creek/South Altares area of northeastern British Columbia approximately 15 km north of the town of Hudson's Hope described in the Corporation's Form 51-102F1 – Statement of Reserves Data and Other Oil and Gas Information dated April 18, 2022 and filed on the Corporation's SEDAR profile accessible at www.sedar.com.
Currently, one well (C-A48-I) of five wells subject to the Corporation's reactivation program has been returned to production. Based on the Corporation's net average production over 60 days prior to the suspension of its joint venture operations and shut-in of the Corporation's five Farrell Creek/South Altares wells, the Corporation anticipates a production rate of 0.58 MMcf/d once all five wells have been reactivated.
The Corporation expects to release additional production information when the remaining wells (C-45-I, B-17-I, C-18-I and C-B18-I) have been returned to production