Danoil Energy - Drilling Update.CALGARY, Alberta--(BUSINESS WIRE)--Sept. 20, 1996--Danoil Energy Ltd. (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : DAN.A) Natural gas production from two wells commenced on September 8th at the company's Tangleflags property northeast of Lloydminster, Saskatchewan. Initial production rates of 1500 mcf/day will be increased to 2000 mcf/day over the next several months. Danoil operates this production and holds a 100 percent working interest. Facilities include a new compressor compressor, machine that decreases the volume of air or other gas by the application of pressure. Compressor types range from the simple hand pump and the piston-equipped compressor used to inflate tires to machines that use a rotating, bladed element to achieve station, gathering system and sales metering facility. The company recently completed the drilling of two heavy oil wells on its Buffalo Coulee cou·lee n. 1. Western U.S. A deep gulch or ravine with sloping sides, often dry in summer. 2. Louisiana & Southern Mississippi a. A streambed, often dry according to the season. b. , Saskatchewan property. Completion of these two wells has already been finalized See finalization. with the wells being placed on production in the past week. Initial indications are that these two wells will collectively produce in excess of 100 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. . Danoil owns a 100 percent interest in one well and 95 percent in the second well. The company also recently directionally drilled five 20-acre infill in·fill n. 1. The use of vacant land and property within a built-up area for further construction or development, especially as part of a neighborhood preservation or limited growth program. 2. wells on the Dodsland property. Danoil holds a 100 percent interest in these wells. Completion of these wells is also commencing with new production expected within the next several weeks. Production is expected to exceed 100 barrels per day of light oil. The addition of this new production will boost Danoil's current production rates to over 2400 boe per day, of which 90 percent is oil production. Danoil is planning to drill 15 additional wells over the next three months on the Dodsland, Tangleflags and Carson Creek properties. -0- Note to Editors: The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. CONTACT: Danoil Energy Ltd. Robert G. Brawn/Wayne Wadley, 403/261-9010 |
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