Anterra holds a 100% working interest before payout and a 60% working interest after payout in the well.
Following completion, the final swab rate for the well was 3 m3 of fluid per hour with an average oil cut of 99% (450 bopd). The company is placing the 2,700-meter well on production at a restricted rate of 300 barrels of oil per day and is trucking the oil to an Anterra pipeline connected processing facility at Sakwatamau.
Anterra is also licensing a second well in the same pool, which the company expects to drill and complete prior to year-end 2007.
"We have invested over $3 million on land, 3-D seismic and drilling and completion at Judy Creek this year and are pleased our efforts in this area have been so successful," said Owen Pinnell, Chairman and CEO of Anterra. "Subject to board approval, management will be proposing an extensive exploration and development plan for the Judy Creek area in 2008. The plan will include further 3-D seismic, up to five Swan Hills development wells, two Swan Hills exploration wells and the construction of a pipeline connected processing facility. This is a significant discovery and we anticipate that Judy Creek will quickly become our primary producing asset."
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