Exploration & Production | Well Cost | Exploration & Appraisals

Quattro Evaluates Saskatchewan Bakken

Share Print Bookmark    |    Wednesday,October 22,2014

Quattro Exploration and Production Ltd. has announced the completion of its evaluation well at Wood Mountain, Saskatchewan.

The well was drilled, cored, logged and cased to a total depth of 1950 meters, successfully intersecting the Bakken, Torquay and Birdbear zones and terminating in the Duperow, at an aggregate cost of $1,200,000.

On October 16th, the Company released the drilling rig after completing its evaluation plan which included the collection of 33 meters of core from the Bakken and Torquay and obtaining high resolution logs.

The drilling logs have been used to evaluate a series of geological events totaling 134 meters, including a 34 meter section of the Birdbear zone and the initial 56 meters of the Duperow zone.

Quattro will be utilizing this information to complete further analysis over the course of the next 6 to 12 months, prior to advancing its drilling and development plans within the 110,000 acres (net) it holds in the Williston Basin of Wood Mountain, Saskatchewan.

Leonard Van Betuw, President & CEO of the Company, commented: "Our initial objectives have confirmed the hydrocarbon potential in the region with the information collected being an important step towards the commercial development of oil in gas in the region. The completion of the evaluation well at 8-22-5-3 W3M in correlation with our gravity, seismic and previously identified key wells further supports our interpretation of a continuous section of Bakken ranging from 12 to 16 meters over the breadth of our lands. The Company's plan, as proposed, is to evaluate the regional potential of the Bakken play in combination with a number of localized conventional high impact oil and gas targets in the Birdbear and Duperow. The early analysis is encouraging and these results when they are applied to the additional independent structures each averaging approximately 800 acres in size identified on our lands, continue to support our previously stated objectives. Quattro's plan continues to be a series of progressive steps in the region towards two anticipated goals, a material impact for the Company in the region, and remaining on budget."