Significant light oil discovery for Strategic Oil & Gas

Source: Strategic Oil & Gas Ltd.

Strategic Oil & Gas Ltd. (TSX-V: SOG.V) ("Strategic" or the "Company") is pleased to announce a significant light oil discovery and provides an operational update.

LIGHT OIL DISCOVERY

An exploratory vertical well drilled at Steen River has resulted in a new light oil discovery. The discovery well was tested over a four day period. The well flowed on average 733 barrels of 36 degrees API oil for 7-8 hours each day. Over a 29 hour test the well flowed a total of 3083 boe (2933 bbl of oil and 149 boe of associated gas). This well is scheduled to be on production in early April 2012.

Strategic expects to bring the well on production at an oil rate of approximately 300-500 bbl per day. Although at early stages of appraisal, results of the discovery well reinforce management's view that significant light oil potential exists in similar structures at Steen River.

Management is pleased with the results and advises caution as these are initial results from a step out exploratory well on a new structure.

OPERATIONAL UPDATE

The Keg River vertical well 102/15-22 which was drilled in December 2011 and previously announced with an IP30 of 355 BOEPD, has now been on production for over 60 days. This well has produced over 23,000 barrels of oil and is still producing at rates over 355 BOEPD.

Strategic has drilled and completed six wells at Steen River in the first quarter of 2012. Two of the six wells drilled are now on production. Each well is producing at rates over 300 barrels of oil per day. The remaining four wells are being tied in and will be on production in April 2012.

Corporate production is currently over 2400 BOEPD (approx. 80% oil) with the two new wells on production.


Sign up for PennEnergy's eNewsletters
For Email Newsletters you can trust


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Reducing the Burden of Local Content Development Compliance

Governments across the world are implementing Local Content Development laws.  To comply and...

Know the Standards for Flash Fire Hazards

NFPA 2112 and NFPA 2113. Two companion standards for workers exposed to flash fire hazards, both ...

Pervasive Governance: Rethinking Traditional Approaches to Information Governance for Oil & Gas

Information is an organization’s most important strategic asset – the “lifeblood” of the organiza...

OSHA 1910.269 Are You Regulation Ready?

Read this Q&A to learn about changes to federal regulations and how to select FR garments for...

Latest Energy Jobs

View more Job Listings >>

Archived Articles

PennEnergy Articles
2008 | 2009 | 2010 | 2011 | 2012 | 2013

OGJ Articles
2011 | 2012 | 2013

OGFJ Articles
2011 | 2012 | 2013

Power Engineering Articles
2011 | 2012 | 2013

Power Engineering Intl Articles
2011 | 2012 | 2013

Utility Products Articles
2011 | 2012 | 2013

HydroWorld Articles
2011 | 2012 | 2013

COSPP Articles
2011 | 2012 | 2013

ELP Articles
2011 | 2012 | 2013