The Haldimand Project Operator, Petrolia, has since provided Junex with a modified drillstem test report for DST #1 and the corrected information about gas flow rates and recoveries appears in the fourth paragraph.
Junex announced that the Haldimand Project Operator, Petrolia, has completed the drilling of the Haldimand No. 2 well at a total depth of 1,200 meters. According to the Operator of the project, light oil shows were observed in drill cuttings samples (fluorescence sometimes accompanied by oil shows) over the interval from 746 meters to the total depth of the well.
The Operator has carried out 4 drillstem tests (DST). In Junex's opinion, DST #3, from 909.9 to 944.1 metres, seems to have identified a hydrocarbon-bearing interval that may justify further testing. In view of these results, the project Operator has installed production casing down to the total depth of 1,200 meters. The Operator has indicated that it plans to mobilize a service rig in the near future to proceed with production testing at the well.
Junex has not financially participated in the drilling of the Haldimand No. 2 well but still holds a 35% interest in this project covering an area of 9 km2.
DRILLSTEM TEST RESULTS
DST #1 from 715 to 763 meters recorded an initial gas flow of approximately 1 thousand cubic feet per day (mcf/d) (28.5 m3/d) after 20 minutes, a maximum flow rate of approximately 1.8 mcf/d (50.7 m3/d) after 40 minutes, decreasing to a gas flow rate of approximately 1.4 mcf/d (40.3 m3/d) after 90 minutes. A total of 8 meters of drilling fluid was recovered.
DST #2, carried out from 1,099.1 to 1,131.2 meters, recovered 23.5 meters of drilling mud without any notable presence of hydrocarbons.
During DST #3, from 909.9 to 944.1 meters, an initial gas flow rate of approximately 116 mcf/d (3,288 m3/d) after 5 minutes was recorded and a final gas flow rate of approximately 15 mcf/d (419.8 m3/d) after 60 minutes was observed. A total of 61.2 meters of slightly oil cut drilling mud was recovered. This interval also covered the cored interval from 923 to 932 meters, where an interval of thick sandstone, cut by 2 subvertical fractures, was observed. The project Operator has sent this core to a Calgary laboratory for analysis.
Finally, during DST #4, carried out between the depths of 848.6 to 882.9 meters, an initial gas flow rate of approximately 53 mcf/d (1,493 m3/d) was recorded and a final gas flow rate of approximately 2.4 mcf/d (67.3 m3/d) after 60 minutes was observed. A total of 29 meters of drilling mud was recovered.
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