Great Plains Exploration's Pembina Oil Well Passes Test
Great Plains Exploration announced the test results of its first Cardium oil well at 13-07-50-05 W5 in Pembina. Following completion, testing took place over a five-day period, during which time the well was flowed and subsequently swabbed for a total of 68.4 hours at an average rate of 610 BOPD. At the end of the test period, the well swabbed at a rate of 417 barrels per day of new 38 degree API oil, with associated gas of 110 Mcf per day. No formation water was produced. Great Plains and its partner, Sifton Energy, are now equipping the well for commercial operation, with first production scheduled for mid-April 2010. Great Plains owns an undivided 50% working interest in this well.
Based on these positive results from the 13-7 well, Great Plains and Sifton acquired additional Cardium rights in adjoining sections in Pembina at the Provincial land sale on April 7, 2010. In total, the Company has now assembled 5,896 net acres of Cardium rights on the same emerging trend at Pembina, with an average working interest of 60%. Great Plains expects to recommence its Cardium drilling program in June 2010 and now has an inventory of 15 to 23 horizontal wells which will use multi-stage fracture stimulation technology to maximize recovery of high netback crude oil.