Tuesday, September 02, 2014 10:36:35 AM
In June 2012 ~ $STBR earned an undivided 100% working interest in the petroleum and natural gas rights to eight sections of Crown land in the Compeer, Alberta area through the drilling of its first horizontal Viking oil well at 05-29-33-02W4. The 05-29 well has been on production since February 2013 and the Company continues to monitor production performance. At the same time, technical and operating evaluation is ongoing to determine whether the well can be optimized prior to considering additional step-out horizontal drilling potential.
Strongbow is encouraged that it has demonstrated Viking oil production potential across its Compeer acreage position.It also notes that horizontal Viking oil drilling activity is picking up in the area. Two active third-party operators have drilled six wells during Q4/2013 and Q1/2014 within a five mile radius to the north and south of Strongbow’s 05-29 well. The Company will continue to monitor its own well and the area activity to determine suitable next steps on its Compeer acreage. For more information on STBR visit ~ http://strongbowinc.com
Strongbow is encouraged that it has demonstrated Viking oil production potential across its Compeer acreage position.It also notes that horizontal Viking oil drilling activity is picking up in the area. Two active third-party operators have drilled six wells during Q4/2013 and Q1/2014 within a five mile radius to the north and south of Strongbow’s 05-29 well. The Company will continue to monitor its own well and the area activity to determine suitable next steps on its Compeer acreage. For more information on STBR visit ~ http://strongbowinc.com
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