Primera Energy Resources Ltd. (TSXV:PTT) Announces Corporate Update on Block WD-4 Drilling Program
2011年11月22日 - 11:30PM
Marketwired
Primera Energy Resources Ltd. ("PERL" or the "Corporation") (TSX
VENTURE:PTT) is pleased to provide the following corporate
update.
Optimal Block WD-4
PS 266RD, the first well drilled during the current drilling
campaign has been completed, initially in 131 feet of net pay
between 5053' and 5312' in the Lower Forest formation. The well was
put to pump and is currently producing 119 barrels of clean oil per
day. Approximately 139' of net pay in the Upper Forest formation
remain to be exploited.
The service rig has moved on to PS 111RD, the second well in the
drilling program. This well found 295 feet of net pay in the Forest
and Cruse formations and is being completed, initially in 45 feet
of net pay in the Upper Cruse formation.
Production results for PS 111RD will be provided as soon as they
become available.
Work is continuing on location preparation for PS 174RD which
shall target the underexploited Cruse formation, and an
infill/replacement well to PS 125 and will also be drilled.
About PERL
PERL is a TSX Venture Exchange listed issuer which currently
produces approximately 500 bopd pursuant to a lease operatorship
agreement in South Central Trinidad and has a 16.2% entitlement to
the Cory Moruga Block.
Statements in this press release may contain forward-looking
information including expectations of future operations, operating
costs, commodity prices, administrative costs, commodity price risk
management activity, acquisitions and dispositions, capital
spending, access to credit facilities, income and oil taxes,
regulatory changes, and other components of cash flow and earnings.
The reader is cautioned that assumptions used in the preparation of
such information may prove to be incorrect. Events or circumstances
may cause actual results to differ materially from those predicted,
a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the issuer.
These risks include, but are not limited to, the risks associated
with the oil and gas industry, commodity prices and exchange rate
changes. Industry related risks could include, but are not limited
to, operational risks in development and production, delays or
changes in plans, risks associated to the uncertainty of reserve
estimates, or reservoir performance, health and safety risks and
the uncertainty of estimates and projections of production, costs
and expenses. The reader is cautioned not to place undue reliance
on this forward-looking information.
Neither the TSX or TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX and TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Primera Energy Resources Ltd. Geoffrey Leid Chief
Executive Officer & Director (868) 628
-1128gleid@primeraenergyresources.com
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