Welcome!

Microsoft Cloud Authors: Janakiram MSV, Yeshim Deniz, David H Deans, Andreas Grabner, Stackify Blog

News Feed Item

Primary Petroleum Completes Phase I Exploration Program on its Southern Alberta Basin Prospect in NW Montana

CALGARY, ALBERTA -- (Marketwire) -- 01/04/13 -- Primary Petroleum Corporation (TSX VENTURE:PIE)(OTCQX:PETEF) ("Primary" or the "Company") wishes to advise that the $41 million Phase I Exploration Program ("the Program") has been completed. The Program consisted of 95 sq. miles of proprietary 3D Seismic; nine vertical wells of which seven were to acquire stratigraphic information and identify prospective reservoirs and three horizontal wells. Existing 2D and newly acquired 3D seismic have been integrated with the new drilling data which will assist in determining where future exploration efforts should be concentrated. The seismic and drilling coverage completed to date evaluates approximately 20% of the 384,000 gross acres (600 sections) that Primary and its JV Partner have exposure on, delivering approximately 328,000 net acres (512 sections) in the Southern Alberta Basin Fairway in NW Montana.

Horizontal Completion Program: Three horizontal wells have been completed and tested in specific reservoir intervals that yielded hydrocarbon shows during pilot program drilling operations. All three reservoir intervals are believed to be normally pressured and sourced from the Bakken System. All wells were completed by the plug-and-perf method utilizing fresh water as the base fluid. Nitrogen lift was initially employed on all wells to facilitate load-water recovery, with production logs and tracer surveys indicating that all frack stages were contributing to initial production. Specifics on each well are as follows:

Well #1: Nisku Formation (Upper Devonian). 9 stages across approx. 3,000' of horizontal section were successfully stimulated, with a total of approx. 13,000 bbls of fluid and 745,000 pounds of sand pumped. At 55% load recovery, production rates ranged 50-200 bfpd with only traces of oil. This well has been shut in pending further assessment of reservoir properties.

Well #2: Upper Potlatch Carbonate Big Valley Zone (Bakken System). 9 stages across approx. 2,700' of horizontal section were successfully stimulated, with a total of approx. 14,000 bbls of fluid and 835,000 pounds of sand pumped. At 27% load recovery, production rates ranged 60-100 bfpd with traces to 10% oil cut. This well has been shut in pending further assessment of reservoir properties.

Well #3: Basal Lodgepole Formation (Bakken System). 17 stages across approx. 4,000' of horizontal section were successfully stimulated, with a total of approx. 30,000 bbls of fluid and 1.65 million pounds of sand pumped. Results from swabbing operations indicated sufficient deliverability for the well to be placed on rod pump. Production optimization is ongoing to mitigate gas interference and improve pump efficiency

Regional mapping of the associated reservoir facies in the Bakken System will be integrated with geophysical interpretations of 3D seismic to further extrapolate the extent of the reservoirs over our lease holding.

2013 Phase II Exploration Program:... based on the data collected and evaluated to-date, we anticipate that the Phase II Exploration Program will focus in areas which are in closer proximity to source rocks and possible over pressure, which should increase the potential for better reservoir. Step-out drilling locations have been identified for both the Madison and lower Lodgepole formations in Phase I. The Phase II Program would continue to evaluate the best drilling practices to produce these potential resources.

The 60-day option period for our JV Partner to enter into Phase II of the Program has been deemed to have commenced. The Phase II program stipulates that our JV Partner has the option to spend a further US$41 million on seismic, vertical and horizontal exploration drilling to earn an additional 17.5% W.I. in the project.

About Primary Petroleum Corporation - Primary is a junior oil and gas company engaged in exploration and development activities in NW Montana and currently holds substantial land positions in both an unconventional and conventional resource oil play. The Company's mandate is to continue to acquire strategic opportunities in the Sedimentary Basins of the Western United States and Canada and seek out qualified industry partners to assist in the exploitation and development. To learn more about us, please visit our website at: www.primarypetroleum.com.

FORWARD LOOKING STATEMENTS DISCLAIMER: Certain statements in this document may contain "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation. Such forward-looking statements or information include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Primary Petroleum Corporation
Mike Marrandino
President & CEO
(403) 262-3132
(403) 262-3175 (FAX)
[email protected]
www.primarypetroleum.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japanese Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ruby Development Inc. builds new services in short period of time and provides a continuous support of those services based on Ruby on Rails. For more information, please visit https://github.com/RubyDevInc.
SYS-CON Events announced today that CAST Software will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CAST was founded more than 25 years ago to make the invisible visible. Built around the idea that even the best analytics on the market still leave blind spots for technical teams looking to deliver better software and prevent outages, CAST provides the software intelligence that matter ...
As businesses evolve, they need technology that is simple to help them succeed today and flexible enough to help them build for tomorrow. Chrome is fit for the workplace of the future — providing a secure, consistent user experience across a range of devices that can be used anywhere. In her session at 21st Cloud Expo, Vidya Nagarajan, a Senior Product Manager at Google, will take a look at various options as to how ChromeOS can be leveraged to interact with people on the devices, and formats th...
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we'v...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Taica manufacturers Alpha-GEL brand silicone components and materials, which maintain outstanding performance over a wide temperature range -40C to +200C. For more information, visit http://www.taica.co.jp/english/.
SYS-CON Events announced today that TidalScale, a leading provider of systems and services, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale has been involved in shaping the computing landscape. They've designed, developed and deployed some of the most important and successful systems and services in the history of the computing industry - internet, Ethernet, operating s...
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.