Category: News Releases Petrostar Petroleum to drill Maidstone property shortly
Mr. Robert Sim reports
DRILL RIG ON MAIDSTONE PROPERTY… DRILLING PROGRAM TO COMMENCE IMMEDIATELY
Petrostar Petroleum Corp. has set up the Ensign Tricity rig No. 45. The company is ready to commence the first phase of the company’s drill program on its Maidstone property.
Robert Sim, president of Petrostar, commented, “Though we have had challenges with the rainy conditions over the past two weeks in the area that have delayed moving and setting up the rigs, we are excited to finally be in a position to commence the actual drilling on our Maidstone property.”
Under the supervision of Pajak Engineering Ltd. of Calgary, the drilling of a vertical stratigraphic test well in D16-06-48-23W3 to a depth of 575 metres will commence immediately. Once the stratigraphic test well drilling process has been completed, a horizontal production well will be drilled. The horizontal well will initiate from a plug back in the vertical well and drilled at a depth of approximately 500 metres in the McLaren reservoir and extended horizontally for approximately 1,300 metres and terminate in C13-06-48-23W3, 100 metres from the west lease boundary. The rig will then move location to A16-06-48-23W3 and commence a 1,300-metre injection well and terminate in C12-06-48-23W3, 100 metres from the west lease boundary.
The company has also filed a licence application to drill a horizontal well from location D9-06-48-23W3 which will terminate in B12-06-48-23W3, 100 metres from the west lease boundary. This well will be drilled in close proximity to existing vertical wellbores A12-6, A11-6, A10-6 and A9-6, and provide a conduit for production fluids which is the basis for the patented Vertizontal Recovery System.
Further to Stockwatch news Sept. 12, 2006, outlining plans for the testing of the Enhanced Recovery System (ERS), the company is on target with the timelines it established. A tank test will be conducted on Oct. 7, 2006, at the fabrication plant in Richmond, B.C. Thereafter, the DHT unit will be shipped to the company’s base in Red Deer, Alta., in preparation for field deployment. To reiterate the company’s commitments reported in Stockwatch news Sept. 12, 2006, the company fully expects to commence testing of the ERS by mid-November on its A9-06-48-23W3 well. Furthermore, the company is actively exploring opportunities to test the ERS technology on other candidate wells and properties.
We seek Safe Harbor.
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