CALGARY, May 28, 2018 /CNW/ – Pulse Oil Corp. (“Pulse” or the “Company”) (TSX-V: PUL and PUL.WT) announced today that Pulse has purchased a Bigoray-specific 3D seismic data set covering 2,916 acres (11.8 sq km's) encompassing Pulse's Nisku Reefs, the focus of Pulse's active Enhanced Oil Recovery (“EOR“) program.
This 3D seismic data set is critical for asset optimisation and will become a critical component of the contract awarded recently to Schlumberger Canada Limited to complete all three phases of the Company's petrotechnical modelling of the Bigoray Nisku D and E Pools, prior to physical implementation of the EOR schemes.
Pulse's President and COO, Drew Cadenhead, commented, “Making this acquisition of existing 3D seismic, rather than acquiring new seismic, will result in substantial savings and, as previously mentioned, will allow Pulse to make the right parametric decisions in our EOR program. This is critical to maximizing the value of this project for our shareholders, making sure we have done all we can to ensure successful long-term maximum recovery of the proven oil in place within our Nisku oil pools.”
About Pulse Oil Corp.
Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) and has plans to become a leading oil and gas company. Pulse has recently completed four transactions to consolidate its interests in the Bigoray area of Alberta, resulting in 100% control of Pulse's Bigoray operations that include two Nisku oil Pinnacle Reefs as well as 100% interests in producing assets in the Queenstown area of Alberta. Pulse is moving forward to grow production and execute an Enhanced Oil Recovery project to unlock significant value for shareholders through control of approximately 65 net sections of land across the Mannville, Cardium, Pekisko/Shunda, Nisku and Duvernay Shale trends in Western Canada. Pulse will also continue to focus on acquiring affordable, small to medium sized proven oil and gas assets with significant upside. The Company plans to achieve further growth through low-risk, technically diligent drilling, infrastructure ownership and reserve growth utilizing proven enhanced oil recovery techniques and implementation of technology.