CALGARY, June 4, 2018 /PRNewswire/ – Pulse Oil Corp. (“Pulse” or the “Company”) (TSX-V: PUL and PUL.WT) announced today that the Company has completed a geotechnical evaluation of 3-dimensional seismic data covering 24 sections (15,360-acres) of land centred on Pulse’s light oil-prone Queenstown acreage in South Central Alberta.
This 3D seismic data set is critical for asset optimisation and Pulse’s advanced Amplitude vs. Offset (AVO) work has now tied accurately the seismic data to the “sweet spots” in its existing horizontal wells. The geotechnical study has led to the identification of eight further development locations, all targeting the highest porosity and permeability sections of the light oil-prone Glauconite Lithic Channel trend previously discovered on Pulse’s land.
Pulse President, Drew Cadenhead, commented, “This advanced geophysical work has given us more confidence in our ability to target the absolute best locations for our upcoming horizontal development drilling program. Previously, our best well in the area initially produced (“IP’d”) at over 400 BOE/d, whereas some of the more average wells that were not drilled in the sweet spots we have now identified IP’d at around 100 BOE/d. Obviously our plan will be to target the potentially highest producing zones, and this new work gives us greater confidence we can do just that. We expect to be initiating this drilling program later in the year, and we look forward to the potential new production and associated cash flow”.
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 owns 100% interest in the Bigoray area assets of Alberta, resulting Pulse planning and executing on a reactivation and enhanced oil recovery operations focused on two Nisku oil Pinnacle Reefs. In addition Pulse owns 100% interests in producing assets in the Queenstown area of Alberta that have significant growth potential through development drilling. 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.