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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Nuloch Resources | TSXV:NLR.B | TSX Venture | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
NuLoch Resources Inc. (TSX VENTURE:NLR.A) (TSX VENTURE:NLR.B) reports that its second well at Tableland, Saskatchewan achieved an average production rate of 186 barrels per day (130 b/d net) of crude oil over 30 producing days. The water cut was 65% at the end of the period. This horizontal well was fracture stimulated in 27 stages using 10 tonnes of ceramic proppant in each stage. Details of the 205 b/d 30-day production rate on the first well (1.0 net) at Tableland were released on March 29, 2009. NuLoch has three additional wells in completion or early production phases in the Three Forks Sanish formation in Saskatchewan. The sixth well in the program is being drilled with a further two wells planned for the second quarter. NuLoch has a 70% working interest in all of these horizontal wells. A multi-stage fracture stimulation completion, in the Middle Bakken formation, of an additional horizontal well (0.7 net) drilled in January 2010 is planned for this month. North Dakota Since January 1, 2010, NuLoch has participated in the drilling of five (0.5 net) horizontal Three Forks Sanish wells in North Dakota with three different operators. These wells include a long-reach horizontal on 1280 acre spacing that has been fracture stimulated in 30 high-tonnage stages. The well is now in the early stages of flowing back stimulation fluids. One operator has contracted a rig for the drilling of six wells in the balance of 2010. In Divide County, the first horizontal well (0.1 net) will be an offset to an existing Middle Bakken producer. The next well is planned for the Middle Bakken in the St. Croix region of Burke County with a working interest of approximately 15%. The rig is then expected to move back to NuLoch's 10% working interest lands in Divide County. A second operator is in the midst of a multi-well program in Divide County. In total, NuLoch expects to participate in 24 (2.5 net) wells in North Dakota in 2010. NuLoch Resources Inc. is a junior oil and natural gas producer with its head office in Calgary, Alberta. The company is actively expanding and developing its strategic properties in North Dakota and Saskatchewan both of which contain the recognized Bakken Shale and the fast-growing Three Forks Sanish formations of the mid-continental Williston Basin. Forward-Looking Statements Certain statements in this document constitute "forward-looking statements" that can generally be identified as such because of the context of the statements, including words indicating that the Company "believes", "anticipates", "expects", "plans" or words of a similar nature. These forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements.
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