American Petro-Hunter provided and update regarding the ongoing completion program of the NOJ26 oil well at the North Oklahoma Project.
NOJ26 has undergone a successful fracture stimulation ("frac") program on the oil bearing shale formation. The operator has begun swabbing back the "frac" fluid load and reports that the procedure will be completed in 2 days following which a calculated BPD rate can be ascertained. The Company has been advised that as all pump and tank storage equipment has arrived on site and is ready for immediate installation it is anticipated that NOJ26 will be on pump and producing by early next week as it commences production from the shale formation. Ultimately, the true test of the shale will be the actual quantity of oil sent to the tanks over the upcoming weeks as it is expected that an early flash of oil will be followed by a period of stabilization.
Once the rate of flow has been accurately established from the lower formation, the Company and operator will open the upper 40 foot Mississippi formation pay zone for a comingled, co-production scenario. 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.
Additional developments from the North Oklahoma Project will be made available as soon as news from the field becomes available.
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