Petrostar Petroleum completes DHT design changes
2007-06-27 05:49 MT - News Release
Mr. Robert Sim reports
PETROSTAR PETROLEUM ENHANCED OIL RECOVERY TECHNOLOGY PROJECT UPDATE: NEW APPLICATION FOR ZERO CO2 EMMISSION POTENTIAL PROTOTYPE PRODUCTION MODEL DHT HAS BEEN ORDERED
Petrostar Petroleum Corp. has finalized design changes to its enhanced oil recovery technology, also known as the downhole tool (DHT). Manufacturing of the first two of eight production units has been initiated. The new DHT has enhanced components that have been incorporated from recent field testing that will add to the versatility and capabilities of the unit. Additionally, the company has improved on the DHT unit's depth potential through implementation of a new cable configuration that allows for unit deployment to a depth of up to 5,000 feet. The new cable system will also improve on end-user operational costs by eliminating the previously used expensive coil tube pigging and delivery method. The company will discuss deployment of the new generation DHT with a major oil field distributor to initiate testing in both light and heavy oil formations with other oil and gas companies.
The field testing of the DHT on Petrostar's well 15.6 is continuing and with the 600-per-cent production increase experienced on its previous test well, 9/6, the company is anticipating similar results and the possibility of a greater halo effect due to the 15/6 well situated in a more centralized position in the field and its higher formation elevation.
The company has also awarded Valex/Delpro of Delta, B.C., the contract to initiate its first electric tank heater (ETH) prototype. The unit will be constructed to meet CSA approvals and forwarded to the Maidstone property for initial testing. The company is confident that, upon successful field testing and CSA approval, the improved ETH will meet the Saskatchewan Industry & Resources (SIR) requirements as discussed with an SIR representative. CSA approval is a prerequisite to preparation of a formal presentation to SIR in regards to discussions for their endorsement of the ETH and distribution to the marketplace.
As previously announced in Stockwatch, the burner systems currently predominately in use emit potentially harmful CO2 emissions. Petrostar's improved ETH will not only lower operating costs by reducing consumption of fossil fuels, but also produce zero CO2 emmissions.
In other developments, the company is currently reviewing several potential acquisitions that, should they be consummated, will serve to further advance the DHT's potential under varying light and heavy oil formation environments.
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