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Haldimand No. 1 well produces 156 barrels of oil in preliminary 70-hour test
Haldimand No. 1 well produces 156 barrels of oil in preliminary 70-hour test.
About this update from Cavvy Energy Ltd
[{"type":"text","content":"\n\n\n\n\nMONTREAL, March 29 /CNW Telbec/ - Junex (JNX : TSXV), PDetrolia \n(PEA : TSXV) and Gastem (GMR : TSXV) are pleased to announce that they have\nsuccessfully completed preliminary zone testing on the Haldimand No. 1 well.\nThe best performing zone occurs between 950.5 metres and 1,090 metres in\nDevonian sandstones. Production testing on this hydrocarbon saturated zone\nover a thickness of almost 140 metres lasted 70 hours during which a total of\n156 barrels of oil (47 degrees API) was produced from a 23.5 metres perforated\ninterval. Zone porosity is estimated to be between 2% and 10% and formation\npressure at 1,073 metres was measured to be 11,385 KPa.\n\"The results of these preliminary tests encourage us to install a pump\njack in order to more fully test the zone over a prolonged period to determine\nthe stabilized production capacity of the well. It is significant that\npreliminaty testing of the Haldimand No. 1 well has confirmed the presence of\nthree reservoir zones in a relatively shallow well. Two of these reservoir\nzones contain salt water and one contains light oil. This is a profoundly\nimportant event in oil exploration in Quebec's Gaspe Peninsula. While previous\nexploration efforts have established the presence of Ordovician-age source\nrocks (where oil it believed to have been generated) and the existence of\nstratigraphic and structural traps for oil storage and preservation, this\nHaldimand No. 1 discovery is the first instance where such a well developed\nreservoir has been found and established to have commercial potential.\"\ncommented a spokesperson for the project partners.\nThe Haldimand well was drilled to a total depth of 1,434 metres and\nencountered oil and natural gas throughout the entire length of the well. Four\nselected zones were tested. The first two were open-hole tested and diagnosed\nhas having negative economics. The third and fourth zones were tested after\ncementing and perforation. The third zone, located between 1,142 and \n1,174.5 metres, produced salt water. The fourth zone produced 156 barrels of\noil, after having been perforated and cleaned with acid before the flow test.\nJunex and Petrolia each hold a 45% interest in the project and Gastem\nholds a 10% interest. Junex is the operator of the project.\n\nAbout Junex\n\nJunex holds exploration rights on more than 4 mill...