"Horizontal drilling has never been undertaken in the past by Pacific Tiger and utilizing this proven drilling technique is a significant milestone for the Company. Our reservoir modeling indicates that we should see a substantial increase in well deliverability and reserve drainage as compared to vertical wells. If successful, horizontal drilling will reduce our development capital requirements and dramatically increase our reserve valuation" said Michael Cvetanovic, President and CEO of Pacific Tiger.
The Company reports that it has executed service contracts with KCA Deutag for the T-48 drilling unit as well as other ancillary services such as logging, mud system and cementing. The T-48 will be mobilized to the site on February 5th and rigged up by February 10th. The T-48 was used to drill Pacific Tiger's successful Phase II directional wells, N4, N5 and N6 in just 9 days. Drilling is expected to take around two weeks.
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