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.
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