American Petro-Hunter update the ongoing well completion progress at the NOJ26 Well location on the North Oklahoma Oil Project.
NOJ26 was successfully perforated and acidized in the lower oil bearing shale horizon where high gravity light oil was recovered and swabbed with excellent oil cut over the 40 foot interval. The shale will now undergo fracturing in order to finish the stimulation of the lower formation prior to continuation of the well completion program. Shale samples are currently being evaluated at an Oklahoma core lab and the results of this analysis will recommend the optimal fracture stimulation to maximize the oil production from the shale. Results are expected shortly and the final completion of the well is expected to result in commercial production by month end. The pumping unit and tank battery is now on site for rapid tie-in and hook up of NOJ26 well.
The Company is confident that based on strong oil shows and excellent swab testing results that following the fracture stimulation of the shale, the lower shale pay zone will produce at rates in excess of the No. 1 well which tested at 80 BPD under similar conditions. Engineers believe flow rates from the oil shale zone combined with the upper pay zone could ultimately result in over 200 BPD of production at NOJ26. American Petro-Hunter is a 50% partner in the well.
In related news, American Petro-Hunter announced that the No. 1 well at the North Oklahoma project has resumed production and oil is now flowing to the tanks. After a period of stabilization of barrel per day (BPD) rates derived from the oil shale production, the Company plans to begin a reservoir engineering assessment by a third party engineer in order to calculate a reserve estimate of barrels of oil in place under the No. 1 well location.
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