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Point Loma Touts Flow Test of Latest Nordegg Oil Well

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   |    Monday,November 21,2016

Point Loma Resources has conducted an extended flow test of the 5-31-55-6W5 Nordegg oil well and has received an approved license to tie-in the well and commence production.

Highlights:

  • Pipeline application to tie-in the 5-31-55-6W5M Nordegg well has been approved.
  • Point Loma intends to commence construction on the pipeline immediately and is estimated to be completed in approximately three weeks.
  • The 5-31 Nordegg well was the subject of an extended test to confirm appropriate surface facilities. Prior to the test Point Loma had successfully reconfigured the well to optimize the sizing of the surface equipment. The well was flowed via production from the Nordegg formation test under restricted rates for six days with the flow averaging as follows (all load fluid was recovered prior);
  • Total fluid recovered 1760 bbls
  • Average Oil rate of 150 barrels per day
  • Natural gas rate of 500 mcf per day (80 boe/d)

With the addition of this new well Point Loma is poised to continue its expanding production base to a level above 700 boe/d. Point Loma is also underway with the survey and pipeline plans to tie-in the Thorsby Glauconite well 11-18-49-1W5 shortly after the completing the tie-in of the Nordegg well. The Thorsby well was previously flow tested and is anticipated to increase Point Loma's production levels to a year end exit rate of greater than 800 boe/d.



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