Australian-Canadian Oil Royalties Ltd. (ACOR) announced that the operator states that the Cleansweep Oilfield has commenced production and is now online and producing crude oil at an initial rate of 120 barrels of oil per day with plans to possibly increase the daily production.
Early production commenced using the operator's modular production facility and a low cost rental pumping system. The pumping capacity of the facility will be upgraded once the reservoir performance is established.
Production rates will be monitored before completing an assessment of potential reserve additions.
The New Cleansweep Oilfield is the first to commence production within ACOR's Cooper/Eromanga Basin license area PEL 100.
ACOR management is excited about the new revenue stream that is now being generating from the new Cleansweep Oil Field Discovery. There are several more drilling leads identified from seismic on PEL 100.
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