DeeThree Exploration Ltd. Provides Earnings Guidance for the Fiscal Year 2014; Announces Test Results at Brazeau Belly River Well
The company also announced the results of a four day production test of its most recent 100% working interest horizontal Belly River oil well drilled in the Brazeau area. After fracture stimulation, this well continued to flow for 4.5 days up the 4 1/2" frac string at an average rate of 940 bbls /d of 44deg API reservoir oil and 3.3 mmscf/d of natural gas with a final rate of approximately 850 bbls/d of oil and 3.7 mmscf/d of natural gas (on a 1 (1/16) " choke at a wellhead pressure of 350 psi). With expected conservation of produced natural gas for sale, this final test rate equates to approximately 1,525 boe/d (70% oil and liquids). This well is an offset to an earlier Upper D discovery that tested at similar rates and helps support the company's initial interpretation of a much larger pool with several more potential high impact locations.