Lux Energy's West Central Alberta Production Exceeds Expectations
Lux Energy has established a firm foothold in its West Central Alberta oil and gas venture. President and CEO, Shane Broesky advises that the West Central Alberta C well has far exceeded the initial prospects. The C well drilled and completed in July, 2009, was considered a natural gas target. The well completion however, encountered a significant oil reservoir plus a further bonus when the completion encountered an abundance of petroleum liquids in the gas zone.
Mr. Broesky comments that this well has to date produced in excess of 2200 bbls of oil, 20 MMCF of natural gas and 600 bbls of NG liquids without stimulation. Production to date has averaged 60 BOE/day. The operator has advised that pumping equipment was installed on November 4th to enhance production recovery. In addition, engineering evaluations are in progress to determine a future reservoir flood scheme. The operator advises that the reservoirs in the C location have excellent porosity and a secondary flood program should substantially increase the capacity for reservoir recovery.
The success of the C lease location has provided Lux Energy Corp with the incentive to embark on an acquisition program to secure additional locations in this area of West Central Alberta.