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Pulse Oil Corp. Announces Increased Production and Strategic Land Acquisition
Pulse Oil Corp. Announces Increased Production and Strategic Land Acquisition Cana...
About this update from Pulse Oil Corp.
[{"type":"text","content":"\n\n\n\nPulse Oil Corp. Announces Increased Production and Strategic Land Acquisition\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Dec. 11, 2017\n\n\n\nCALGARY, Dec. 11, 2017 /CNW/ - Pulse Oil Corp.  (\"Pulse\" or the \"Company\") (TSX-V: PUL) announces the Pulse team has begun the process of re-establishing shut-in production from Pulse's recently acquired strategic Bigoray area assets (Pulse 100% Working Interest). \n\nCurrent daily production for Pulse has increased from approximately 70 BOE/D to more than 300 BOE/d (84% oil) with the initiation of Pulse's planned reactivation program. Pulse expects these mature, long-life wells to further stabilize and settle in after initial flush production at rates of approximately 250 BOE/d. \n\nPulse's experienced operating team will continue to safely and methodically implement additional production reactivation opportunities associated with these 100% controlled assets, with plans to reactivate another five to seven wells at Pulse's Bigoray and Queenstown properties over the coming weeks.  \n\nPulse also announces that it has completed, subject to Alberta Energy Regulatory approval, the acquisition of all PNG rights in 160 acres of Bigoray land immediately adjacent to Pulse's 100% owned Bigoray Nisku D Enhanced Oil Recovery (\"EOR\") project, which strategically locks up key acreage for Pulse to pursue further upside within the EOR program. The acquisition, from an arms-length private Alberta company, was funded using working capital provided by Pulse's growing operational cash flow. \n\nDrew Cadenhead, Pulse President and COO commented; \"The first phase of re-establishing shut-in production from our Bigoray assets has started strongly. A relatively simple workover of a poorly performing NGL-rich gas well, followed by a re-activation of another pumping oil well that has been shut in for over 3 years, has provided Pulse with additional BOE's/d and cash-flow. For a start-up like Pulse, this early success creates growing cash-flow, and in a company wi...