Surge: At Peace with Sawn Lake Results
Surge Global Energy said that its subsidiary, Signet Energy, operator of the Sawn Lake development at the Peace River Oil Sands in Alberta, has successfully tested the reservoir for positive cold pumping production of crude oil from the 1-36 well.
Initial third-party test results conclude that the initial oil samples taken early in the flow show 10.7 API gravity with 3.1 percent sulfur, noted Surge. Lab analysis of further oil and water samples are expected within the next few weeks.
"These initial results are very encouraging and confirm our core data and geological studies that the heavy oil in place at Sawn Lake is indeed mobile to a degree using cold pumping methods," remarked David Perez, Surge's CEO.
"This test well is the first of a 10-well delineation drilling program at the Sawn Lake property with which Signet will earn-in up to 69.5 sections under a farmout agreement with Deep Well Oil & Gas," explained Leigh Cassidy, Signet's executive chairman and CEO. "To date Signet has earned six sections, or 3,840 net acres, by drilling and completing the first well."
Due to break-up (seasonal change), road restrictions have led to the temporary suspension of operations at the well
site. The restrictions should be lifted early this
summer. After operations resume, Signet expects to undertake a three-well drilling program in the late second quarter of 2006.
- Deep Well Welcomes New Members to Board (Mar 09)
- Deep Well Appoints Donald Wayne to Board of Directors (Sep 22)
- Deep Well Converts 5 Oil Sands Permits to Leases, Mulls Devt Options (May 12)
Company: Signet Energy more info
- Deep Well Resolves Sawn Lake Issues (Dec 04)
- Deep Well Reports Lighter-than-Expected Oil at Sawn Lake (Nov 15)
- Signet Completes Second & Third Horizontal Wells at Sawn Lake (Sep 19)
Company: Surge Global Energy more info
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