Lux reported that the Operator of the Woodrush project in the Peace River Arch, Northeast British Columbia, has released the results of a 24 hour production test of the new oil discovery on the property. Lux Energy Corp has a working interest in this project.
Production casing was set on the well after it encountered a Halfway oil pool and other production horizons. This well was drilled to a newly defined seismic feature north of the original Woodrush oil discovery made in 2008. The well was subsequently completed in the Halfway sand and flow tested in excess of 500 barrels of oil per day (BO/day) of light sour oil during a 24 hour test. Pipelines are now being laid to the Operator's central production facility. Production is to commence soon at rates between 300 and 400 BO/day.
"This addition boosts the Woodrush gross production to over 1000 BOE/d, approximately 50% oil," stated Shane Broesky, President of Lux Energy Corp. "The two new wells drilled and completed this March will more than double operating netback to the Operator from this field."
A third well drilled planned for drilling in March was deferred in anticipation of an early end to the winter drilling season caused by unseasonably warm weather. The Operator is currently updating the seismic interpretation of the Woodrush field with the new well information. Additional drilling at Woodrush over the near term is anticipated.
Lux Energy Corp discloses that it's President, Shane Broesky, holds a 25% stake in the company from which Lux acquired its interest in the Woodrush project. Mr. Broesky's interests in and relationships with this and other firms involved in the oil and gas industry gives Lux Energy the opportunity to participate in projects where the chance would otherwise not be available to the Company.
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