Business
Haldimand No. 1 well produces oil while drilling continues
Haldimand No. 1 well produces oil while drilling continues.
About this update from Cavvy Energy Ltd
[{"type":"text","content":"\n\n\n\n\nRIMOUSKI, QC, Feb. 7 /CNW Telbec/ - Petrolia (PEA : TSX-V) announces that\nthe Haldiman No. 1 well is producing oil while it is being drilled. 6,000\nlitres were produced over a period of 7 days, equivalent to 5 barrels per day.\nThis oil production appears to be associated with a reservoir zone at a depth\nof 960 metres. The well seems to have penetrated an over-pressurized zone of\npermeable rocks containing gas, salt water and oil.\n\"This discovery of oil is significant since it could be the precursor to\na producing oil reservoir. However, a quantitative estimate of production\ncapacity can only be performed following completion of the well. Meanwhile,\nthe well continues to produce at the rate stated above and it is anticipated\nthat a 10,000 litre tanker truck of oil will soon be sent to a refinery.\"\nstates Andre Proulx, president of Petrolia.\nThe target depth of the Haldimand No. 1 well is 1,200 metres and there is\na possibility that additional pay zones will be encountered.\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release\n\n\n","length":1193,"tagName":"div"}]