Operational Updates
Celtic Exploration Continues to Delineate the Duvernay, Brings Montney Wells on Production
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Celtic Exploration Ltd. (TSX:CLT) ("Celtic" or the "Company") has released its financial and operating results for the three and six months ended June 30, 2012.
Drilling and Operations
At Kaybob, Alberta, the Company continued its delineation of the Devonian Duvernay play by drilling 3 gross (2.5 net) wells. All three wells were cased and rig released prior to June 30, 2012. However, completion activity on the wells has been held up due to the extremely wet conditions in the Kaybob area, with the first of the three wells expected to commence completion operations by mid-August.
A Duvernay well located at 4-11-60-20W5 (33.3% WI) that was drilled during the first quarter of 2012 was completed in July; however, operations had to be shut down due to wet weather conditions. A production test…
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