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Ironhorse Oil & Gas Inc. advises that the Operator of the Nisku L2L Pool has restarted production effective July 19th , 2016.
The Pool has been shut in since January 2016 due to uneconomic conditions and in order to preserve the value of Ironhorse's reserves. The Company has a 15.6250% working interest in the Pool and the production from the Pool is Ironhorse's main source of cash flow. The Company continues to be financially well-positioned, with existing positive working capital and no debt.
The Operator has advised production from the Pool was restarted without incident. Ironhorse anticipates the Pool will remain on production provided commodity prices remain at an economic level.
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