KELOWNA, BC, Nov. 28, 2016 /CNW/ – Georox Resources Inc. (“Georox” or the “Corporation“) (GXR:TSX-V; OF6A:FRA) Georox owns a pooled 6.9% interest in the General Petroleums pool in the Silverdale, Saskatchewan area.
Recently the Corporation completed a salt water disposal well, 07-012-48-28W3 through its operator. An injectivity test has confirmed that the well is capable of 14,500 bbls of water per day which can handle all the needs of the entire field. This will now lead to the tie-in of all of its eight oil wells and is expected to increase operating cash flow through the handling of produced water through its own facilities.
In addition a high volume lift program was initiated on the well 10-11-48-28W3 to determine its high volume lift production capability. Gross oil production from this well increased from 25 bopd to 70 bopd. From this test the entire field capability can be extrapolated to justify a complete expansion of the project and it is currently estimated that this field will increase by an estimated 225 bopd gross (15 bopd net to Georox for a total of 35 bopd.
The Corporation currently produces approximately 140 boepd of which 75% is light oil, 24% is heavy oil and 1% is gas.