Westlinks' Saskatchewan Drilling Program Shows Promise
Westlinks Resources Ltd. provided an update on the five well drilling program on its Superb property in Saskatchewan. Three wells have been drilled successfully to date. The first well has been cased and is currently being production tested. The second and third wells are being completed and cased respectively. Westlinks estimates that this five well program could add approximately 400 bbls/day of oil production to the field for a total field production rate of approximately 650 bbls/day.
"We continue to move closer to our goal of 3,000 boe/day," said Reg Greenslade, Westlinks' Chief Executive Officer. "The combination of Westlinks and Big Horn is now creating the platform for us to scale our operations. The Superb prospect should not only add approximately 400 boe/day, but increase our oil reserves as well. The Superb property illustrates Westlinks' ability to buy properties and develop production immediately. We will continue to balance low-risk drilling projects like Superb, which add cash flow and reserves, with high-impact prospects such as Altares, which have the potential to double the Company's production."
Westlinks purchased the Superb property in June of this year. At the time of purchase, the property was shut-in, awaiting electrification of the four existing wells. Prior to being shut-in, the property was producing approximately 180 bbls/day. In June Westlinks started construction of a central battery and water injection facility, and installed an in-field gathering system. The central battery and water injection facility will help reduce operating costs and will allow optimization of the field production levels. The field was brought back on production in late July at 250 bbls/day prior to any follow up drilling.
It is anticipated that this drilling program will be completed by October 25, 2001 and that all the new wells will be on production by the end of the October. The Company owns a 64% interest in the project.