Business
PetroTal Brings Second Oil Well Online and Spuds Third Well in Bretana Field
Calgary, Alberta and Houston, Texas--(Newsfile Corp. - April 23, 2019) - PetroTal Corp. (TSXV:...
About this update from Petrotal Corp.
[{"type":"text","content":"PetroTal Brings Second Oil Well Online and Spuds Third Well in Bretana FieldCalgary, Alberta and Houston, Texas--(Newsfile Corp. - April 23, 2019) - PetroTal Corp. (TSXV: TAL) (AIM: PTAL) (\"PetroTal\" or the \"Company\")  is pleased to announce that the Company has placed a second oil well, the BN 95-2-2-2XD oil development well, on production through long term test facilities at the Bretaña field and spud a third well, the BN 95-3H oil well.The Company's second well, which reached total depth on April 9, 2019, was completed as an oil producer in the Vivian formation in the northern portion of the Bretaña structure. The well was brought online at an initial rate of approximately 2,250 barrels of oil per day (\"BOPD\"). This is an early production rate and more detailed production data will be announced in due course.The Company has also spud the BN 95-3H well the northern portion of the Bretaña field, which will be completed as a horizontal producer in the Vivian formation. This well is expected to take 60 days to drill, complete and be brought online.The Company's first discovery well, which came online in mid-2018, is producing an average of 800 BOPD.Manolo Zuniga, President and Chief Executive Officer, commented:\"We are pleased that the second oil well has come online as planned. The initial rate is an early production rate, however. Once the well has had time to stabilize, we will provide additional information to stakeholders. With the first two wells online the field has exceeded 3,000 BOPD. The Company's third oil well was spud on April 20, 2019. This well will also target the northern part of the field which will give us additional data points to continue defining the reservoir.\"For further information, please contact: Manolo ZunigaPresident and Chief Executive [email protected]: (713) 609-9101Greg SmithExecutive Vice President and Chief Financial [email protected]: (713) 609-9101Mark Antelme / Henry LerwillCelicourt Communications (Financial PR)[email protected] T: 44 (0) 207 520 9261James Spinney / Ritchie Balmer / Eric AllanStrand Hanson Limited (Nominated & Financial Adviser)T: 44 (0) 207 409 3494John Prior / Emily Morris / George PriceNumis Securities Limited (Joint Broker)T: +44 (0) 207 260 1000Jonathan Wright / Hugh R. SandersonGMP FirstEnergy (Joint Br...