Alberta Star Drills First Blackfoot Well
Alberta Star has drilled, cased and completed the first well of its Blackfoot Phase 1- three well (1.0 net well to the Company) drilling program on the Blackfoot heavy oil property in Lloydminster, Alberta. The well is located at 3D-11-050-02-W4 and is currently producing and the Company expects that once the well has stabilized, production rates will be comparable to that of surrounding heavy oil wells. The remaining two Blackfoot Phase 1 wells on adjacent sections, are expected to be spudded after spring break-up. The Blackfoot Phase 1 - three well program is scheduled to include drilling and completing three in-fill heavy oil wells at the following locations: 3D-11-050-02-W4 (drilled, completed and on initial production), C6-24-050-02-W4 (pending) and C7-14-050-02-W4 (pending). Once completed, Blackfoot Phase 1 - three well program will increase the number of Lloydminster heavy oil wells that the Company has an interest in, to seventeen. The Company will have a 33.33% working interest in the Blackfoot Phase 1 - three well program wells.