Nordic Oil and Gas has now licensed the first of its two new re-entry wells at Lloydminster, Alberta, and announced that the service rig would be on site today. Re-completion of the well will begin today and should be completed within five days. Once completed, the rig will then move over to the second re-entry well site, which is currently being licensed.
In addition, Nordic also plans to drill a third well at Lloydminster, which was licensed a few months ago. It is anticipated that the two re-entry wells will be on production by the end of this month, while the third well should be producing sometime in July.
"This will bring to nine the number of heavy oil wells the Company will have on production at Lloydminster," Mr. Benson stated. "In our News Release dated June 5, 2009, we stated that the Company was producing 150 barrels of oil per day (BOPD) from its six wells in Lloydminster. The addition of these three wells should bring our total production in the area to at least 200 barrels of oil per day."
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