The operator of Lux Energy's West Central Alberta project has informed the Company that the "B" well on the property is drilled, cased, equipped and tied into a production pipeline awaiting fracture stimulation.
There are two zones of interest in this well that are targeted for production. The operator will fracture stimulate both zones and the well will be produced on a combined zone basis. To date, the well has had a preliminary series of flow tests and it appears to be liquid rich flowing as high as 500 mcf/day and 9 bbls per hour liquid condensate. The fracture is expected to occur within the next few weeks.
In July, 2009, "B" well was opened up and blew in at 580 mcf at 1000 psi with 9 bbls fluids recovered within the first hour without a fracture. Despite these positive results, economic conditions and energy prices at the time did not make the well cost-effective.
"B" well was originally drilled 11 years ago and blew in at 1,000 mcf initially after the 10 ton fracture. It was drilled to a depth of 1900 meters where a glauconite zone was discovered.
"Estimates for this well point to an outstanding revenue stream for the Company," commented Shane Broesky, President of Lux Energy Corp. "All parties agree that the time is right to open up "B" well and we are eagerly anticipating excellent results within the coming weeks."
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