San Telmo Energy announces Teepee Creek oil discovery
Tuesday October 19, 7:00 am ET
VANCOUVER, Oct. 19 /PRNewswire-FirstCall/ - San Telmo Energy Ltd.
(OTCBB: STUOF - News; TSX-V: STU - News) is pleased to announce that
its 6-3 Teepee Creek well has been completed as a New Pool oil well.
The 6-3 well, the second well in its Teepee Creek program encountered
both oil and gas pay from multiple zones. Due to limited storage
capacity, completion and testing operations were restricted to
production of approximately 500bbls of oil and 137,000 cubic feet of
gas. Stabilized production is anticipated to range between 100-150bbls
of oil per day. Operations are currently underway to construct oil
handling and gas conservation facilities onsite.
San Telmo's 6-3 well immediately offsets the gas discovery at the
original 4-10 Teepee Creek well, which tested at a stabilized flow
rate of 1.3mmcfd (217 boe/d) on a 3/8" choke. Pipeline construction
for the 4-10 and 6-3 wells is in progress and expected to be complete
and production on stream shortly. San Telmo Energy has a 100% working
interest in the Teepee Creek project area.
San Telmo feels this new oil pool discovery represents a large
development opportunity for the Company in the Teepee Creek area
because of the Company's strategic land position over this play. The
Company is putting the plans in place to drill more wells at Teepee
Creek this season.
AI
