Deep Well Oil and Gas (fka DWOG)

[wshaw14]

The demonstration project at Sawn Lake, Alberta commenced bitumen production on September 16, 2014. The SAGD producing well is still in its ramp-up phase and during March 2015 bitumen production averaged 319 barrels per day with a Steam-Oil Ratio ("SOR") of 5.4.Notably, production averaged 345 barrels per day with a SOR of 5.0 in the last 16 days of March.

" The Company expects the steam chamber to reach the top of the Bluesky formation sandstone reservoir in April 2015"

Looks like they have still not reached the top of the Bluesky formation.

That was quite an improvement in the last 16 days of march.

Looks like they have lowered the SOR goal. It was originally "reach production of between 345 and 370 barrels of bitumen per day, with associated steam oil ratios of between 4.7 and 3.8. These production parameters correspond to the Best and High case estimates used by Sproule Unconventional Limited in the December 31, 2013 NI51-101"