Tanager Energy Inc.: First Joffre Well Production Test Flows at a Stabilized Rate of 290 BOE/d Over a 12 Hour Period
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 01/16/15 -- Mr. John Squarek, President & CEO of Tanager Energy Inc. (TSX VENTURE: TAN) ("Tanager"), is pleased to report that Tanager has completed the production test on its first well at Joffre at a stabilized rate of 290 BOE/d (235 barrels per day of oil and 325 mcf/d of gas). Tanager is the operator and holds a 50% interest in this project with Viking Investments Group, Inc. holding the other 50%.
The flowing wellhead pressure was stable at 475 psi, estimated to be a 7.7% drawdown of the reservoir. The fluid produced was 100 percent high gravity oil. On a metric equivalent basis this is 52.5 cubic meters oil equivalent per day at 3265 kpa flowing wellhead pressure.
For the first 4 hours the well flowed at 875 BOE/d at 262 psi wellhead pressure. The production rate was reduced for the final 12 hour test period to keep the reservoir drawdown to less than 10%.
The next step in the process is to place the well on production through the existing pipeline at the lease edge. It is expect that this should take place within the next 4-6 weeks. At the same time, plans are under way to reactivate the second well in this project, expected to be done by the end of March.
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.
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Contacts:
Tanager Energy Inc.
John Squarek BSc, P. Eng., MBA
President and Chief Executive Officer
403-388-0969
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Datum: 16.01.2015 - 14:00 Uhr
Sprache: Deutsch
News-ID 364991
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CALGARY, ALBERTA
Kategorie:
Mining & Metals
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