Tuscany Energy Ltd. (TSX VENTURE:TUS) ("Tuscany" or the "Corporation") is pleased to announce that it has placed the recently completed horizontal heavy oil development well at Macklin, 96/7-28-39-27W3, on production at an initial rate of approximately 125 barrels of oil per day. It is anticipated that the well will decline to approximately 50 barrels of oil per day over the next six months with production rates remaining relatively stable thereafter.
Tuscany holds a 100% interest in the well which, has been connected to the Macklin central battery. The well is expected to result in Tuscany's average daily production averaging approximately 700 BOEd for the first quarter of 2014.
The well, which was drilled in December 2013, was partly financed from the proceeds of a $500,000 issue of shares issued on a development flow through basis.
Tuscany is a heavy oil development and production company with reserves, land holdings and production in Canada. The Company's principal focus is the exploitation of oil resources in Alberta and Saskatchewan through horizontal drilling. The majority of the Company's revenue is generated from oil sales in Saskatchewan.