The Company also announces that construction of the sales pipeline has commenced to connect the Chicken Springs Prospect exploratory test well to existing production facilities. Completion work on the PRFed 14100 SW29 well will commence later this week to test the Almond coals and the Almond sands. It is the Company's intention that the well would be connected to the sales line immediately after the well is completed. Completion work is expected to take three weeks as the coals and the sands will be tested individually.
Additional drilling permits have been submitted to the BLM and based upon production results from the initial well, development drilling could commence by early fourth quarter.
"We are pleased to enter this stage of development of our CBM project," said Kodiak President Lynn Peterson. "We have seen some strong encouragement from our initial nine well "pod" at Pacific Isle. These additional wells can be added to our production base without the need to expand our current production facilities. We are quite excited about completing our initial Chicken Springs well and look forward to the Company's first cash flow."
Kodiak is an independent energy exploration and development company with its primary focus on exploring, developing and producing hydrocarbons from shallow gas projects, primarily coalbed methane, in the Rocky Mountain Region of Wyoming. The Company is headquartered in Denver, Colorado and its stock trades on the TSX Venture Exchange under the symbol "KOG".
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