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Primary Petroleum Corp has commenced drilling
Primary Petroleum Corp has commenced drilling
Primary Petroleum Corp has begun drilling the first of six vertical wells.
FOR IMMEDIATE RELEASE
(Free-Press-Release.com) November 7, 2011 --
PRIMARY PETROLEUM (PIE:TSX.V and PETEF: OTCQX) is pleased to announce that it commenced the vertical drilling program on its Southern Alberta Bakken Basin prospect in NW Montana. The first of six vertical wells was spud on late Thursday afternoon and the current vertical drilling program entails drilling vertical wells selected from 2D- and 3D-seismic data. Each vertical well will be cored through the Bakken and Three Forks formations. Vertical drilling depths will vary from approximately 4500 ft. to 6500 ft.. Each vertical well will take approximately three weeks to drill and retrieve key important technical data for further evaluation. Primary anticipates that it will be in a position to update its shareholders and the investing public in early Q2 of 2012 on this current program.
This vertical drilling program will enable Primary and its JV Partner to analyze key core and log data in order to determine a viable six-well horizontal program into the most prospective portions of the Bakken and Three Forks formations. Secondary to this, our 3D-seismic program has identified prospective targets in the Sunburst, Madison and Nisku formations and the log data from the current vertical program will further evaluate the potential of those secondary formations.
Primary will continue to update its shareholders that have registered and/or granted permission to Primary to receive updates from the Company. When Primary has determined that a material event has transpired it will update everyone through a broadly distributed News Release.
This $41 million Phase One program consists of approx. 125 sq. miles of 3D seismic; six vertical wells and six horizontal wells and is expected to be completed by year end of 2012. The Phase One program is fully funded by the JV partner whereby Primary is the operator through the vertical program and the JV Partner becomes operator through the horizontal program, as announced on October 19, 2011.
Primary has set up a photo gallery on its website for all to view the current drilling program. Please check back on a regular basis as the photo gallery will be updated regularly. The following link will take you Primary Petroleum photo gallery on its website.
http://www.primarypetroleum.com/index.php?page=operations&subpg=gallery
We hope you find this update informative.
PRIMARY PETROLEUM CORPORATION
Suite 800, 744 4th Avenue SW
Calgary Alberta T2P 3T4 Canada
MEDIA CONTACT: Ron Irwin, email: drcommunicator@gmail.com Tel: 310-908-0889
More information can be found online at http://www.primarypetroleum.com
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