James I have been a huge fan of Nordic since September. I am glad to see someone else who follows the stock.What you say about the new well being 1 mile away is news to me. Extremely good news I might add. I have been wanting to hear two things about this new well. The distance between the first well and this one was the first. The second was how thick the pay zone was. One mile is huge!!
Oil Springs Ontario, formerly called Western Canada, is celebrating drilling oil seeps and starting the oil industry rolling 150 years ago this year. This is a very big anniversary for them. What is most significant about what they did was they began to refine oil into various products kerosene, lubricating oils, tars and pitches. They eventually produced over 9,000,000 barrels. Much was produced within the first 5 years. Some of their wells flowed up to 6,000 barrels per day. They did not drill very deep. The first wells were 50 to 70 feet deep in the clay. They cribbed the wells with logs. Hugh Shaw an American began to drill deeper into the rock and produced oil from a flowing well at 152 feet. The well initially produced at 2,000 barrels per day. Folks thought he was crazy for going so deep. Before he struck oil that is. Soon there were 1600 people drilling for oil in the Oil Springs area.
I have been to the site several times. The whole oil field covers basically 6 - 200 acre farm lots with a few wells drilled in 2 neighbouring lots. Let us say 1600 acres or 2 1/2 kilometers by 2 1/2 kilometers. Petrolia's field which is 7 miles distance is much larger, nearly 20 miles long by 5 miles wide. Together the two fields have produced over 29,000,000 barrels of oil.
The total rock layers to bedrock is about 1400 feet. The oil level was found between 453 and 473 feet below surface. These wells of Nordic have every chance in the world to duplicate Oil Springs and Petrolia's success.
For other information about oil seeps you should have a look at In4anickel's comments on the qiscapital website. He has listed a good number of them there.
jacq |
