Hi Dale glad to see you got some R&R :)
Here is the latest on 2-34 :(
June 17, 2001
TURNER VALLEY PROJECT UPDATE
(Website Advisory)
To the Shareholders:
Results of the pre-test fluid recovery operation last Tuesday and Wednesday were increasingly very positive with a marked increase in oil cut and gas, but by mid-day Thursday, June 14th it became apparent that wellbore fluid that was apparently injected into the reservoir in November, along with the 1.5-ton lost circulation pill, was starting to re-enter the wellbore.
The operator has been able to determine that the drilling superintendent at that time, arranged to have the pill and approximately 140 cubic metres (880 barrels) of accompanying fluid pumped into the reservoir at a calculated rate of 1 cubic metre/minute. Though some oil and gas in the reservoir had got past this mixture during the current fluid recovery operation, this fluid is now being recovered from the wellbore.
The equipment that was being used just recently was utilized for an expected lesser amount of wellbore fluid recovery. New pump equipment, which will increase the fluid recovery rate to 25 cubic metres (157 barrels) per day, will be in place after mid-week at which time the surface lease should have dried sufficiently from the recent heavy rains. The re-determined amount of wellbore fluid to be recovered now, should be realized by approximately June 27th-28th after which the five-day production test should finally be underway. As previously stated, until such time as most of the load fluid is recovered from the near wellbore area of the reservoir, it effectively acts as a blockage to the production of oil.
Of importance to the Company's shareholders is the fact that despite the influx of new wellbore recovery fluid, shut-in pressures have been increasing steadily. As an indicator of the quality of this reservoir, shareholders are advised that during the recent packer removal operation, lost circulation was experienced in the open hole wellbore involving the loss/entry into the reservoir of in excess of 250 barrels of load fluid, at flow rates in excess of 2,500 barrels per day.
The Company has no reason to downgrade its earlier expectations regarding recoverable oil reserves and production rates for this well.
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Bearcat Explorations Ltd. is listed on the Canadian Venture Exchange under the symbol BEA.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
