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Pulse Oil Corp. Announces Successful Queenstown Production and Increasing Cashflow
Pulse Oil Corp. Announces Successful Queenstown Production and Increasing Cashflow ...
About this update from Pulse Oil Corp.
[{"type":"text","content":"\n\n\n\nPulse Oil Corp. Announces Successful Queenstown Production and Increasing Cashflow\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.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, May 22, 2019\n\n\n\nCALGARY, May 22, 2019 /CNW/ - Pulse Oil Corp. (\"Pulse\" or the \"Company\") (TSX-V: PUL and PUL.WT) is pleased to announce an operational update on successful production results from Pulse's Queenstown assets located in Southern Alberta. \nQueenstown Results Exceed Expectations\nAs part of Pulse's light-oil drilling campaign these first two Queenstown wells targeted Pulse's newly defined 3-D seismic lithic sandstone channels, which are the highest quality reservoirs within the Mannville Channel play.  These first two wells have initial combined test rates of over 1,350 boe/d, (79% total fluids), with oil cuts presently 48% oil and rising daily as total load fluid used in well completion stimulation operations is produced out of the wells.\nPulse's production team is continuing to monitor these two wells and the short-term production rates achieved to date, in order to optimize the wells for long-term production. These results to date have encouraged Pulse's management team to initiate plans for an additional, multi-well drilling program at Queenstown in coming months; details will be announced upon completion of well planning and board approval. \nBigoray Results Coming Shortly\nPulse is also happy to report that testing operations at Bigoray are proceeding. Both of these new oil wells, that will become injectors in the future for Pulse's enhanced oil recovery project at Bigoray, are expected to be placed on production shortly. At current, both wells have been perforated and swab testing is underway. Pulse expects to announce the results of the initial swab/flow testing program shortly.\nDrew Cadenhead, Pulse President and COO, commented, \"We are very excited about these production rates at Queenstown announced today. Not only will this strong new production increase cash flow immediately for Pulse, we are encouraged enough to initiate another, ...