Crown Point Ventures Ltd. has successfully completed and put on production the first of its two Bakken test wells in south eastern Saskatchewan in an area not currently being drilled by other producers.
This well has been given "Tight Hole Status" by the Operator and as such production volumes and technical well data will not be released at this time. The second well is currently in the process of being equipped with a pumpjack and will subsequently also be put on production.
The Company also reports that based on the success of the initial two well drill program, The Company along with its partners have been able to secure the hydrocarbon rights to an additional 640 acres of land encompassing the Bakken play in the same area of south eastern Saskatchewan. This brings the partners gross acreage up to 6,640 acres, over 5,640 net. The Company holds a 47.5% working interest in the Saskatchewan project.
The Company and its partners are planning a developmental drill program for the fall/winter drill season on the Bakken field in Saskatchewan.
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