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Mystique Energy Completes First Quarter Drilling Program, Continues to Increase Production
Mystique Energy Completes First Quarter Drilling Program, Continues to Increase Production.
About this update from Abrasilver Resource Corp.
[{"type":"text","content":"\n\n\n\n\nTSX-Venture Exchange: MYS\n\nCALGARY, April 11 /CNW/ - Mystique Energy, Inc. (\"Mystique\") announces\nthat the company has completed the drilling of its fourth well for 2006 and\nhas suspended drilling operations due to the imposition of road bans during\nspring breakup. Drilling operations will resume after road bans are removed.\nThe four wells were drilled to depths ranging from 2000 to 3000 metres on\nfarm-in lands located northwest of Calgary. All four wells were cased. Earned\nworking interests of the wells vary from 45% to 85%. One of the four wells has\nbeen completed, tied-in and is on production. The other three wells are in\nvarious stages of being completed and tested. One additional well (earned\nworking interest (equal sign) 85%), which had been drilled and cased in\nDecember, 2005, is also being completed and tested. Because of spring \nbreak-up, additional completion work will resume after road bans are removed.\nAny flowline construction work will also be completed after spring breakup.\nMystique anticipates that successful results from the completion work on these\nnew wells will add to Mystique's growing production base during the second\nquarter of 2006.\nMystique has licensed four new wells to start drilling immediately after\nroad bans are lifted and has 11 additional locations being licensed. All of\nthe drilling locations are on the farm-in lands.\nMystique is continuing to increase its production as it brings on new\nwells resulting from the successes of its 2005 drilling program on the farm-in\nlands located northwest of Calgary. Production averaged 195 boepd during the\nfourth quarter of 2005 with a December 2005 average of 213 boepd. In January\n2006, production increased to an average of 225 boepd. With more wells coming\non stream in February and March, current production is estimated to be\nexceeding 300 boepd.\n\nBased in Calgary, Mystique is involved in the exploration and\nexploitation of petroleum reserves in western Canada.\n\nThe TSX Venture Exchange does not accept responsibility for the\nadequacy and accuracy of this release.\n\nUse of the term barrels of oil equivalent per day (\"boepd\") may be\nmisleading, particularly if used in isolation. A boe conversion ratio of \n6 mcf: 1 bbl is based on an energy equivalency conversion method primarily\napplicable at the burner tip and d...