Trinity Valley Increases Reserve Base At Days Chapel
2014年2月12日 - 1:03AM
Marketwired
Trinity Valley Increases Reserve Base At Days Chapel
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 11, 2014) -
Trinity Valley Energy Corp. (TSX-VENTURE:TE) (The "Company") and
Anderson County Land Company ("ACLC") have received an interim
report of Estimated Original Oil In Place, ("OOIP") effective
January 15, 2014 from RJ Naas LLC, independent petroleum engineer
on the Days Chapel Enhanced Oil Recovery ("EOR") Project ("Days
Chapel" or the "Project"), located in Anderson County, East Texas
approximately 110 miles southeast of Dallas, Texas.
This interim report contains an increased estimate to 16,621,771
barrels of original oil in place at Days Chapel to the Isopach zero
foot contour and an increased estimate to 11,960,346 barrels of
original oil in place to the Isopach 20 foot contour. The December
17, 2012 51-101F2 Report prepared by RJ Naas LLC, was based on 14.1
million barrels of original oil in place and 9.2 million barrels to
the Isopach 20 foot contour.
A revised Isopach map and the addition of an Isovol (Hnet ?½X
So) map were prepared from the interpretations of the logs and
cores from 18 locations over the Carrizo oil pool. The Isovol map
is critical to the OOIP. Samples from the cores were tested by
Weatherford Laboratories using both the Retort and Dean Starks
procedures to obtain measurements of porosity, permeability and oil
saturation.
The estimated recoverable reserves in the December 17, 2012
51-101F2 Report of 4,287,000 barrels of oil was based on inverted
7-spot steam technology which was applied by Shell Oil Company in
the 1970s at the Slocum Field, two and half miles to the south.
Based on a 20 foot cut off, a 45% recovery factor of original oil
in place was applied. The evolution of steam assisted production
technology, including SAGD and other techniques, has been yielding
as high as 65% to 70% recovery factors in the more viscous heavy
oil reservoirs of East Central Alberta.
The Carrizo oil formation however, contains a less viscous oil
(18°, no heavy metals). ACLC and the Company expect that modeling
based on current technology will result in a significant
improvement over a 45% recovery factor. The combination of an
expanded reservoir and the application of contemporary technology
will result in material increase in projected recoverable
reserves.
The remaining results of the coring program along with this
report will form part of a data catalogue which will now be
inputted into a simulation model to determine the optimal
combination of technology and techniques to commercially exploit
the Days Chapel Carrizo Oil Pool.
In conclusion, results from the above modeling program and
analysis, along with the Estimated Original Oil In Place Report
will provide information to update a NI 51-101 compliant
independent reservoir engineering report to reflect the increase in
the size of the reservoir and the application of contemporary
enhanced oil recovery technology.
About The Days Chapel Project
The Days Chapel oilfield in Anderson County, East Texas is
shallow Carrizo sand (Eocene Formation) at a depth of 550 feet to
700 feet. The formation lacks natural reservoir "drive" in the form
of solution natural gas or water drive. Accordingly, it must be
artificially heated to enable the oil to be produced. The Days
Chapel oilfield is one of a number of contiguous Carrizo oilfields
in the southern part of Anderson County. Whereas the Carrizo
formation lacks natural reservoir energy in the form of solution
natural gas or water drive, in the late 1960's Shell Oil Company
developed the Slocum field, less than two miles south of Days
Chapel with a full scale steam-injection using vertical well 7-spot
injection patterns.
The Days Chapel Project has established infrastructures that
include paved highways throughout the property, rail access, a sale
gas pipeline runs through property, good water sources with rights,
valid lease and Mineral Deeds have been assembled by ACLC over a
4-year period. The Project is strategically located close to the
Gulf Coast Refineries in the Houston Ship Channel and Beaumont/Lake
Charles areas, offering significantly higher oil price differential
to Canadian oil producers (Heavy Oil) per barrel.
Gerrard Kiefer, Professional Geologist, is the Qualified Person
under National Instrument 51-101 responsible for preparing and
reviewing the data contained in this press release.
ON BEHALF OF THE BOARD
Michael Dake, President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Trinity Valley Energy Corp.(888) 909-5548(888)
909-1033info@trinityvalleyenergy.comwww.trinityvalleyenergy.com
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