Tanager Energy Inc.: First Joffre Well Pressure Survey Confirms Reservoir has Returned to Near Original Reservoir Pressure
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 12/22/14 -- Mr. John Squarek, President & CEO of Tanager Energy Inc. (TSX VENTURE: TAN) ("Tanager"), is pleased to report that Tanager has completed the first step towards the re-activation of its Joffre D3 B Pool which consists of 4 suspended oil wells and 1 suspended water injection well.
On Saturday, December 20, Tanager completed the re-entry and downhole pressure survey of the first well to determine the current reservoir pressure, a critical element in determining the scope and anticipated production of this suspended oil pool. The survey confirmed the reservoir pressure has returned to 94% of the original pressure (i.e. the pressure that existed when the pool was discovered in 1986) due to the active water drive in the pool. With the reservoir at near original pressure, it is expected the well will flow oil and gas to surface on testing. It should be noted that the first well in this pool produced at over 2100 barrels of oil per day for the first 7 months.
The next step in the re-activation process is to complete a production test to confirm the productivity of the pool, which will occur during the week of January 5th 2015 as service crews are unavailable for the remainder of December due to the holiday season. The production testing may take up to 10 days to complete.
Tanager Energy Inc. is a Lethbridge, Alberta based corporation engaged in the exploration for oil and gas and minerals, with an operations office in Calgary, Alberta. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "TAN".
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Certain statements contained in this press release may constitute forward-looking statements. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "projects", "plans", "anticipates" and similar expressions. These statements represent management's expectations or beliefs concerning, among other things, future operating results and various components thereof affecting the economic performance of Tanager. Undue reliance should not be placed on these forward-looking statements which are based upon management's assumptions and are subject to known and unknown risks and uncertainties, including the business risks discussed above, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted. These statements speak only as of the date specified in the statements.
The Corporation's actual results could differ materially from those anticipated in the forward looking statements contained throughout this news release as a result of the material risk factors set forth below:
Contacts:
John Squarek BSc, P. Eng., MBA
President and Chief Executive Officer
Phone: 403-388-0969
Email:
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Datum: 22.12.2014 - 14:00 Uhr
Sprache: Deutsch
News-ID 361102
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Town:
CALGARY, ALBERTA
Kategorie:
Mining & Metals
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