Park Place Energy Corp. announced that the operator, Montello Resources Ltd., has informed the Company that they have completed the drilling, logging, and evaluation of the Morgan Highpoint # 3 "Discovery" Well.
In excess of 250 barrels of light gravity oil flowed to surface during an eight-hour production test on the Morgan Highpoint #3 "Discovery" Well with an associated high gas/oil ratio. These results led to the decision to place the well on production.
Production optimization levels will be determined once additional storage facilities and oil transportation arrangements are in place.
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