"N8 has been put back on production," said PTE President and CEO Michael Cvetanovic. "We will be conducting multi-rate production tests with down-hole pressure tests over the next four days to establish long-term production rates."
Testing continues on N7. Mr. Cvetanovic said production rate and pressure data from the horizontal hole is now being analyzed. The Company is also planning to perforate a 12 meter interval behind the 9 5/8 inch casing on March 29. "Petrophysical and log data indicates the best looking sand in the well behind casing. We want to establish what is there before we finalize production parameters."
Cvetanovic anticipates established production rates by end of March.
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