Nordic announced that drilling and casing have been completed at the Company's second new well in Lloydminster, Alberta, and that the interpretation of the logs indicate there are several meters of pay in both the Dina and Sparky zones.
Michael Mann, Nordic's Geologist, has reviewed the logs for the 10B-22-50-02 W4 well and double checked them with the logging company's wireline analyst, and stated, "They have agreed with me that both the Dina and Sparky zones look prospective and that we should perforate the upper part of the Dina oil zone consisting of 3 meters. In addition, the Sparky also looks to have about 3 meters of pay there."
"This represents an exploration discovery for Nordic in the Dina zone where there should be virgin pressures and the possibility of substantial production," Mr. Benson stated. "We are moving a service rig onto the well and will perforate the Dina zone and test the well's production capability."
The completion of this well will bring to 10 the number of wells to be on production at Lloydminster, "and should substantially add to our reserves report to be completed at year-end," added Mr. Benson.
The rig has been moved as is currently at the next location, where drilling of the third well commenced on Monday.
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