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Ironhorse Oil & Gas Inc. - Second Dawson Oil Well Tests at 400 Bopd
Ironhorse Oil & Gas Inc. - Second Dawson Oil Well Tests at 400 Bopd
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\nIronhorse Oil & Gas Inc. - Second Dawson Oil Well Tests at 400 Bopd\n\n\n Mar. 16, 2010 (Filing Services Canada) -- Ironhorse Oil & Gas Inc. (IOG - TSX Venture), (the \"Company\") announces that it has successfully drilled, completed and production tested its second oil well at Dawson, Alberta. The oil well was swab tested at a rate of 400 (220 net) bopd. The Company is installing a pump jack and expects the oil well to be on production later this month subject to spring access issues.Ironhorse now has two (1.1 net) producing oil wells in the Dawson, Alberta area capable of combined production of 700 (385 net) bopd. The first Dawson oil well has been on production since March 1, 2010 at rates exceeding 350 (195 net) bopd. The second oil well is expected to produce at similar rates. After spring break up the Company together with its partner Silverback Energy Ltd. plans to construct a 3 kilometer flow line from the two oil wells to a central oil battery to reduce operating costs and maximize production.The Company will be submitting an application to the ERCB later this month requesting the two oil wells be granted good production practice (\"GPP\"). GPP approval will allow Ironhorse to produce the two Dawson oil wells at optimal rates using good engineering practice.Ironhorse expects to exit the first quarter of 2010 capable of producing in excess of 1,100 boepd with a 70:30 gas to oil ratio. The new oil wells are expected to incur some production disruptions in April due to spring access issues. Ironhorse has fracture stimulated multiple zones at its Jedney property and plans to construct a pipeline to tie the gas well in later this year.For further information, please contact:Rob SolingerVP Finance & CFO(403) [email protected] or visit our website at www.ihorse.ca. Ironhorse Oil & Gas Inc. is a Calgary-based junior oil and natural gas production company trading on the TSX Venture Exchange under the symbol \"IOG\".\"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\"Forward-Looking StatementsStatements throughout this release that are not historical facts may be considered to be \"forward-looking statements\". These forward-looking statements sometimes include...