FIELD ACTIVITIES / Talon Petroleums Reports More Rainbow
Drilling Success
ASE SYMBOL: TAP
JANUARY 27, 1998
CALGARY, ALBERTA--As reported in our press release of December 17,
1997 two additional wells have now been horizontally drilled into
the Keg River formation and successfully completed in the
Rainbow/Haro Area. The first well located at 08-32-106-08W6M
which was horizontally drilled about 275 meters, was placed on
stream on January 19, 1998 and is flowing on a restricted choke in
excess of 200 bopd (net 100 bopd) of 42 API oil with 0.1 percent
BS&W. Talon holds a 50 percent interest in this well. A second
horizontal well, located at 06-23-110-08W6M was horizontally
drilled approximately 600 meters and was placed on stream, January
25, 1998 and is anticipated to initially flow on a restricted
choke, approximately 250 bopd (net 25 bopd). Talon holds a 10
percent interest in this well.
Two horizontal re-entry wells are currently drilling on our
Sousa/Fire properties and Talon holds a 10 percent and 14 percent
interest in these wells. It is expected that two or possibly
three additional horizontal re-entry operations will be conducted
on our Sousa/Fire properties prior to Talon's year end of March
31, 1998. In addition a well located in the Snowfall area has
commenced drilling on January 26, 1998 (Talon 33 percent) which is
planned to test the Debolt formation. We are waiting on a rig to
drill a well at Gordondale (Talon 50 percent) where we plan a
strat test for a potential horizontal lateral in the Charlie Lake
zone. |
