CALGARY, Jan. 2, 2019 /CNW/ – Pulse Oil Corp. (“Pulse” or the “Company”) (TSX-V: PUL and PUL.WT) announces that on December 27th, 2018, drilling of Pulse’s second exploration well, PUL HZ QUEENSTN 12-9-19-21 W4 (“12-9″), reached a total measured depth, as planned, of 2957m (TVD 1389m), including 1237m of lateral section within a highly porous Mannville-aged Lithic sandstone channel. The 12-9 well was Pulse’s second well successfully targeting a new 3-D seismic interpretation intended to focus on the highest porosity / permeability lithic deposits within the Mannville channel trend in the Queenstown area of Southern Alberta.
This second Pulse well took just seven days to complete drilling operations, well ahead of the forecasted drilling curve and budget. Wellsite drill cuttings examination estimated that over 94% of the lateral section was comprised of good to very good reservoir rock, with porosities estimated up to 18% and averaging over 12%. High gas readings and visible oil staining were encountered throughout the entire lateral section. The Nabors #28 drilling rig was immediately released and multi-stage frac operations were completed on both wells as planned December 28th-29th. The wells are expected to be completed and tested in January with new production established immediately in 1st Quarter 2019.
Pulse President, Drew Cadenhead, commented “Our second well in this Queenstown program looks like another good one based on the data we have accumulated while drilling. We have drilled over 1200m of horizontal section through very high quality reservoir rock. Our gas readings were very encouraging throughout the lateral drilling and visible oil staining and petroliferous odours were noted the entire length of the lateral section. Our new seismic interpretation has definitely put us into the high porosity lithic sandstone section we were hoping for. We have eight more locations identified in this newly discovered trend, we’re excited to complete and test these first two wells and be able to get on with the rest of the program.”
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About Pulse Oil Corp.
Pulse is a debt-free, Canadian company incorporated under the Business Corporations Act (Alberta) that is fully funded for its next year of operations including the Bigoray EOR program and drilling in Queenstown. Pulse owns 100% interests in the Bigoray area of Alberta, which includes two Nisku oil Pinnacle Reefs as well as 100% interests in producing assets. 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 within its Queenstown assets, infrastructure ownership and reserve growth utilizing proven enhanced oil recovery techniques and implementation of technology.