Drilling & Completions | Drilling / Well Results | Key Wells | IP Rates-24 Hour | Production Rates | Initial Production Rates | Drilling Program - Wells | Drilling Activity | Drilling Program

Junex's Galt #4 Well Hits Production Record; Receives Permit for New Well

Share Print Bookmark    |    Tuesday,November 29,2016

Junex reported that its Galt No. 4 Horizontal well has produced a total of 17,798 barrels of light, sweet crude oil from long-term oil production testing since the well was drilled - the most significant recovery of oil ever recorded from a single well in Quebec's history.

The total period allotted for production testing per Quebec government regulations was 240 days, of which 221 days of actual production occurred. The remaining 19 days of the 240-day period were spent performing various other operations in the well, including but not limited to the retrieval and replacement of downhole pressure gauges in the well and testing from specific intervals in the horizontal leg. The extended production test ended on November 28, 2016.

The maximum production rate measured in the well in 2015 was 396 barrels of oil per day over a 24 hour period. The average production rate observed as at 30 days of production was 240 BOPD. During the entire test, Junex controlled and limited the production rate such as to harvest the maximum reservoir performance information possible. Because well testing operations are by nature temporary, the configuration of the equipment used is not as optimal or as efficient as that which the Company would use when well production will take place.

The Galt No. 4 Horizontal discovery well was drilled in the autumn of 2014 to a total measured depth of 2,400 meters, of which 1,503 meters was drilled within the oil reservoir. Numerous significant oil shows associated with fracture porosity recorded during drilling and results from downhole well logging clearly indicated that the oil reservoir is intensely fractured and that the Galt No. 4 Horizontal well intersected the near-vertical fractures at an optimum angle of approximately 90 degrees, as forecast in the original well design. No reservoir stimulation of any kind was performed in the well. The well was subsequently tested in 2015 and in 2016 that clearly demonstrated the productivity of this well.

Drilling Permit for the Junex Galt No. 6 HZ Well

Junex also announces that it has received a drilling permit for the Junex Galt No. 6 Horizontal well from the Quebec Ministry of Energy and Natural Resources.

With respect to the Galt No. 5 Horizontal well drilled in 2015, the well remains shut-in for pressure build-up. Once the shut-in period is ended, the downhole pressure gauges will be retrieved and the data will be analyzed provide important details as to the reservoir characteristics in this well, including the potential productivity of this horizontal wellbore. Once this information has been gleaned, the next steps for the Galt No. 5 well will be determined.

Junex holds a 70% interest in the Galt Oil Property and 100% interest in the adjacent acreage. These landholdings are situated approximately 20 kilometers from the town of Gaspé in eastern Quebec.