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BNK Petroleum Inc. Begins Fracture Stimulation of the WLC 14-2H Well
BNK Petroleum Inc. Begins Fracture Stimulation of the WLC 14-2H Well Canada NewsWi...
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"\n\n\n\nBNK Petroleum Inc. Begins Fracture Stimulation of the WLC 14-2H Well\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCAMARILLO, CA, May 1, 2018\n\n\n\nTSX ticker symbol; BKXOTCQX ticker symbol; BNKPF\n\n\n\nCAMARILLO, CA, May 1, 2018 /CNW/ - BNK Petroleum Inc. (the \"Company\") (TSX: BKX) is pleased to announce that the fracture stimulation of the WLC 14-2H well (100% working interest) has begun.  \n\n\n \n \n\n \nCommenting on the announcement, Wolf Regener, President and CEO, said:\n\n\"The Company is continuing its 2018 drilling and completion program with the fracture stimulation of the WLC 14-2H well.  We are looking forward to the flowback of the WLC 14-2H well, following the excellent, previously announced results of the Glenn 16-2H well, which had the highest 30 day oil IP rate in the Company's history.  The fracture stimulation of the WLC 14-2H well will utilize our latest generation frack design, which our technical team believes was the main reason for the exceptional performance of the Glenn 16-2H well. The Glenn well was producing at an oil rate which is about 45% higher than our next highest well's production at the 30 day production mark and continues to perform well. The hydrocarbon shows recorded while drilling the WLC 14-2H lateral look comparable to our best wells in the field.  \n\n\"We expect to be able to release early results from this well in late May.  The WLC 14-2H location is outside of the acreage that was evaluated in our year end NI 51-101 reserve report.  A successful well at this location, which is 2 miles to the east of the Glenn 16-2H well, would potentially prove up significant additional reserves, continue demonstrating the repeatability of our results and further increase our cash flow.\n\nAt today's closing oil price of $67.25 a barrel, our incremental netbacks for these wells are estimated to be approximately $37 a barrel which represents a substantial contribution to our cash flow.  We are projecting a total cost of $5.7 million for the WLC 14-2H well...