Business
Pulse Oil Corp. Completes Transactions to Increase its Interest at Bigoray and Operations Underway to Grow Production and Cashflow
Pulse Oil Corp. Completes Transactions to Increase its Interest at Bigoray and Operations ...
About this update from Pulse Oil Corp.
[{"type":"text","content":"\n\n\n\nPulse Oil Corp. Completes Transactions to Increase its Interest at Bigoray and Operations Underway to Grow Production and 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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 2, 2017\n\n\n\nCALGARY, Nov. 2, 2017 /CNW/ - Pulse Oil Corp.  (\"Pulse\" or the \"Company\") (TSX-V: PUL) announces that Pulse has completed its two transactions previously reported on October 16, 2017 to consolidate its interests in the Bigoray area of Alberta, resulting in 100% control of Pulse's Bigoray operations. \n\nThe transactions secure Pulse's interest in two strategic Nisku oil pools, providing substantial upside to Pulse through the addition of new reserves, restarting of existing behind-pipe production and providing Pulse the opportunity to implement a low-risk Enhanced Oil Recovery (\"EOR\") project to increase recovery factors of the petroleum initially in place (\"PIIP\") from approximately 35% currently and potentially up to 80%.   \n\nImportantly to Pulse, years of production on these Bigoray discoveries and approximately 50 others in the near vicinity have provided Pulse's team significant production history and confirmation that these enhanced oil recovery techniques work and have resulted in an average recovery factor of 80%. \n\nOperational Outlook: Restarting of Existing Behind Pipe Production to Commence Production Growth Plans at Bigoray \n\nPulse's immediate plans to grow production from well reactivations at Bigoray are in place and can be funded through current working capital and cash flow. Prior to Pulse's agreement to consolidate the Bigoray assets, Pulse and its joint venture partner invested approximately $450,000 in work to prepare pipelines and facilities in anticipation of restarting production. With full control of the planning and pace of operations, Pulse will start to bring production from the Bigoray area back online in November.  \n\nDrew Cadenhead, Pulse President and COO commented, \"Operationally speaking, we are excited to take control of these neglecte...