Diaz Ramps Up Heavy Oil Production at Lloydminster

Diaz Resources provided an update on production from the three previously announced Lloydminster horizontal heavy oil wells, which were drilled in the first quarter of 2010.

The three wells, which started producing May 21, 2010, are currently averaging 170 Bopd combined (Diaz : 85 Bopd net).

The addition of the three Lloydminster wells increases Diaz's current net production to approximately 600 Boepd, comprising 30 % oil.

Diaz has a 50 % working interest in section 18-48-1 W4 which now has 7 producing horizontal oil wells.

Diaz plans to drill up to five more horizontal heavy oil wells in section 18-48-1 W4 in 2010.

 

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