Sure Energy Passes Test at Queensdale Well
Sure Energy reported the test results of its recent horizontal well in the Queensdale area of Saskatchewan. The Alida formation flowed 1,164 barrels of 37 API oil over a 42.5 hour test. Final restricted flow rate was 500 BOPD on a 0.875 inch choke with an average flowing pressure of 230 psi and an 11% water cut.
The Company anticipates the well to be on production in early October, initially at a restricted rate of 150 BOPD and subject to possible further restrictions due to pipeline curtailment from the recent shut-in of Enbridge's oil pipelines.
The well is 100% owned by the Company and will qualify for the Saskatchewan Government's Horizontal Oil Well Royalty Incentive Rate of 2.5% for the first 37,740 barrels of oil produced.
The Company has a minimum of two 100% direct offset locations to this well and owns five sections of 100% working interest lands in the Queensdale Area.