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BNK Petroleum Inc. - Caney and Polish Update
CAMARILLO, CA , Dec. 8, 2013 /CNW/ - BNK Petroleum Inc. (the " Company " or " BNK ") (TS...
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"\n\n\nCAMARILLO, CA, Dec. 8, 2013 /CNW/ - BNK Petroleum Inc. (the \"Company\" or \"BNK\") (TSX: BKX), is providing an update on its Tishomingo Field, Caney oil\n shale operations in Oklahoma as well as its Polish shale gas project.\n\n\nOklahoma - Tishomingo Field\n\n\nThe Company's fifth Caney well, the Barnes 7-2H, was successfully\n fracture stimulated in 85 percent of the lateral and, while early in\n the flowback phase, has averaged approximately 520 barrels a day of oil\n and 230 barrels of oil equivalent per day (BOEPD) of natural gas and\n natural gas liquids (NGL's) over the last four days.  Despite its\n shorter completed lateral section, the Barnes 7-2H well has an oil rate\n comparable to the initial oil rate of the Company's previous well, the\n Hartgraves 5-3H well. The Barnes 7-2H well is the first well drilled in\n what the Company believes is a more prolific and thicker oil rich\n subinterval of the Caney.\n\n\nThe entire 5,039 foot lateral was not fracture stimulated due to a\n perforation tool getting temporarily stuck in the well after the\n successful stimulation of 27 stages.  The removal of the perforation\n tool delayed the unrestricted flowback of the well.  The Company plans\n on finishing the stimulation of the last 5 stages following the Wiggins\n 12-8H stimulation.\n\n\nWolf Regener, President and Chief Executive Officer, commented, \"We are\n very pleased with the production results from this well. Our technical\n team targeted what they believed was a more oil prolific portion of the\n reservoir and the early flow data has validated that.  In the Barnes\n 7-2H well, approximately 70% of the production is oil versus about 50\n percent in our previous Caney wells.  These strong oil rates are\n particularly encouraging considering the shorter lateral and the delays\n we had in getting this well into production due to the stuck tool.\"\n\n\nThe Company also successfully finished drilling the Wiggins 12-8H well\n and plans to begin fracture stimulation of that well in the third week\n of December. The Wiggins 12-8H well has about 4,100 feet of lateral in\n the Caney that is planned to be fracture stimulated.\n\n\nThe drilling rig has since been mobilized to the next location and has\n already begun drilling the Company's next Caney well, the Leila 31-2H\n well which is expe...