Deep Well Oil & Gas Resumes Production Testing at Sawn Lake
Deep Well Oil & Gas reports that production testing has re-commenced on the first well of the Sawn Lake 2006 drill program. The operator, Signet Energy, has confirmed that the service rig is on site and production flow testing has resumed on the first successful well of the Sawn Lake heavy oil project.
On December 6, 2005 Signet Energy announced that it had successfully drilled the first well but production testing was interrupted due to mechanical problems which required a service rig to be placed back on the well site.
The operator expects to complete 3 additional wells before the end of the second quarter of 2006.
Deep Well Oil & Gas, Inc. is a Nevada corporation based in Alberta
Canada. Deep Well and its subsidiaries Northern Alberta Oil Ltd. and
Deep Well Oil & Gas (Alberta) Ltd. have an 80% working interest,
subject to a farmout agreement, in 63 contiguous sections of oil sands
leases and 6.5 sections of oil sands permits in the Sawn Lake heavy
oil area in North Central Alberta. The permits and leases cover 43,964
acres. After Signet Energy drills 10 wells at no cost to Deep Well,
they will fully earn their interest in the project. Deep Well will
then directly hold 40% of the project. In addition, Deep Well owns
approximately 29.5% of Signet's common shares. A previously published
independent engineering report estimated that, there are 819.5 million
original barrels of oil in place.
- Deep Well Welcomes New Members to Board (Mar 09)
- Deep Well Appoints Donald Wayne to Board of Directors (Sep 22)
- Deep Well Converts 5 Oil Sands Permits to Leases, Mulls Devt Options (May 12)
Company: Signet Energy more info
- Deep Well Resolves Sawn Lake Issues (Dec 04)
- Deep Well Reports Lighter-than-Expected Oil at Sawn Lake (Nov 15)
- Signet Completes Second & Third Horizontal Wells at Sawn Lake (Sep 19)