CALGARY, June 27, 2019 /CNW/ – Pulse Oil Corp. (“Pulse” or the “Company”) (TSX-V: PUL and PUL.WT) is pleased to announce that Pulse has been chosen to present at the prestigious “SIS Global Forum” September 16 to 19 in Monaco, presenting a paper titled “Reviving a Mature, Watered-Out Fractured Carbonate Reservoir: An Integrated Approach to Design a Miscible EOR Scheme for two Bigoray Nisku Pools in Alberta.” More information on the Global Forum can be found at: https://www.software.slb.com/sis-global-forum-2019.
Details of the SIS Global Forum:
The SIS Global Forum 2019 is a highly technical global conference which focuses on driving digital vision into reality through technology, collaboration, and openness in the oil and gas industry.
Pulse will present the findings of its geotechnical study of the Bigoray Nisku D and E oil pools. This in-depth study was completed with the invaluable resources and expertise of Schlumberger Canada Ltd., one of the world's leading providers of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. The study was deemed critical by Pulse's management team to ensure proper diligence was conducted prior to the physical implementation of the EOR schemes.
The three main components of the study were:
- Geological Study
- Geological and Geophysical Modelling
- Reservoir Simulation
The end result of this work has provided Pulse with a dynamic reservoir model, using the full-field model built from the initial development plan, integrated with the latest data acquired from surface 3-D seismic, single well logs, core data and inter-well data. Importantly, the application of all of the reservoir data, coupled with detailed production history and integrated into a digital dynamic vision of EOR potential performance resulted in the Schlumberger conclusion that “oil recovery from the subject Bigoray Nisku pools could potentially be doubled by implementing the EOR scheme investigated.” The pools have recovered over 9 million barrels of sweet medium-light crude oil to date.
More information on the abstract can be found at: https://www.software.slb.com/sis-global-forum-2019/themes/reservoir-engineering-and-simulation.
About Pulse Oil Corp.
Pulse is a debt-free, Canadian company incorporated under the Business Corporations Act (Alberta) that is focused on methodically, safely, yet aggressively making progress to increase production and reserves in the Queenstown and Bigoray acreages it holds 100% interests in. In addition, Pulse is advancing its Bigoray EOR program and new drilling efforts 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 in the Queenstown area of southern Alberta. Pulse is moving forward to grow production and execute an EOR 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 potentially 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 EOR techniques and implementation of technology.
Neither the TSX Venture Exchange, Inc. nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) has neither approved nor disapproved of the contents of this press release.
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “potentially” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such statements include, without limitation, statements pertaining to the Bigoray and Queenstown operations currently underway, including production rates, cash flow, drilling plans and results, production testing, well completion, anticipated future production, and facilities related to the assets of Pulse Oil. In addition such statements also include without limitation, statements pertaining to the expected Bigoray EOR project and its planned development.
The forward-looking statements are based on management's current expectations and beliefs concerning future developments and their potential effect on the Company based on information currently available to management. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Pulse will be those anticipated. Forward-looking information involves known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Important factors that could cause actual results to differ materially from those in the forward looking statements include, but are not limited to: production and drilling results that deviate from management's current expectations; delays in the Company's drilling activities and tie-in of infrastructure; the volatility of commodity prices, product supply and demand, competition, access to and cost of capital, the assumptions underlying production forecast, the quality of technical data; environmental and weather risks, including the possible impacts of climate change, the ability to obtain environmental and other permits and the timing thereto, government regulation or action, the costs, timing and results of drilling operations; the availability of equipment, services, resources and personnel required to complete the Company's planned operating activities; access to and availability of transportation, processing and refining facilities, acts of war or terrorism; and general economic conditions and other financial, operational and legal risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Pulse Oil Corp.
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