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/C O R R E C T I O N from Source -- Petrolifera Petroleum Limited/
In c8522 transmitted today at 09:00e certain production information has been corrected in paragra...
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nIn c8522 transmitted today at 09:00e certain production information has\n\n\nbeen corrected in paragraphs five, six, seven, and nineteen. Corrected\n\n\ncopy follows:\n\n\nPetrolifera Petroleum provides activity update\n\n\nCALGARY, Jan. 14 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX) hereby\nprovides an update on the company's activity during calendar 2007.\n\n\nPetrolifera had a productive if somewhat challenging year in 2007. The\ncompany drilled at total of 47 wells, all on its Puesto Morales/Rinconada\nConcession in the Neuquen Basin, Argentina, during the year. This drilling\nresulted in 33 oil wells, two natural gas wells, three water injector wells,\ntwo dry holes, four non-productive or suspended wells and three wells were\nbeing completed at year end.\n\n\nAt Puesto Morales, a total of 35 wells were drilled, resulting in 25 oil\nwells, two natural gas wells, three water injector wells, two dry holes, one\nsuspended well and two wells were on completion at year end. At Rinconada, a\ntotal of twelve wells were drilled, resulting in eight oil wells, three\nnon-productive or suspended wells and one well was being completed at year\nend. This brings to over 60 the number of wells drilled on the Concession\nsince first drilling was initiated in late 2005.\n\n\nA major undertaking during 2007 was the design, construction and\nactivation of the company's infrastructure and production facilities. This\nincluded gathering lines, water treatment facilities, water disposal\nfacilities, a high pressure natural gas pipeline and initiation of a\nwaterflood at Puesto Morales North. The timetable for these projects was\nfrustrated during the year by energy shortages in Argentina, especially during\ntheir winter months, which delayed access to requisite parts and equipment for\nthe various component parts needed by Petrolifera to activate its pressure\nmaintenance program. There were also delays encountered in securing pumps and\ncertain high pressure valves for the company's natural gas pipeline and\nrelated facilities.\n\n\nPetrolifera's sales grew considerably during 2007. All sales were of\nproduction in Argentina. Crude oil sales increased 33 percent over 2006\nlevels, to average 7,921 barrels per day. Much of the improvement occurred\nduring the early part of the year, when flush production from new Sierras\nBlancas d...