Javelin Hits Pay at Clear Prairie
Javelin Energy Inc. said that the Corporation has successfully completed 3 Triassic zones in its 100% working interest Clear Prairie well located in Alberta at 102/15-11-91-12W6M.
The well 102/15-11-91-12W6M was flow tested for 48 hours and produced sweet gas at an initial unstabilized average rate of 1.1 MMcf/day (approximately 180 Boe/day) and sweet oil at an unstabilized average rate of approximately 150 Bbls/day.
The 102/15-11 well represents Javelin's first oil discovery in the Clear Prairie area, where the Corporation's current production is 100% gas.
The well is immediately adjacent to the existing Clear Prairie gas gathering infrastructure and the Corporation plans to have the well tied-in and on production as soon as possible in January 2007.
The 102/15-11 well was drilled to a total depth of 1,341 meters and encountered well log indicated hydrocarbons in six zones. A lower Triassic zone was initially completed in the well 102/15-11-91-12W6M but was unable to produce hydrocarbons at an economic rate.
As announced in its news release of December 20, 2006, Javelin has also successfully drilled and cased a second well on its Clear Prairie property located at 100/10-14-91-12 W6M, which was drilled to a total depth of 1,337 meters and encountered five zones with well log indicated hydrocarbons. It is Javelin's intention to commence completion operations on the 10-14 well within the next seven days. Results from such operations will be reported as they become available.
BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.