Tenth Avenue Petroleum Corp. announced updates to its Enhanced Oil Recovery project at Murray Lake, Alberta. The project is designed to increase oil recovery and extend the life of the field by injection of fluids into the existing producing reservoir.

The company announced the closing of 76 bbls/d (100% oil & NGLs) of high quality, high netback, low decline oil assets in the Murray Lake and Hays area of Southern Alberta. The effective date of the acquisition was March 1, 2022, which further strengthens the Company's existing production volumes, third-party processing and operating cashflow for the first quarter. The Company successfully completed facility upgrades at Murray Lake in April, including capacity expansions to the existing infrastructure with the addition of a new treater, injection pumps, upgraded water handling capacity and 5,000 bbls of storage.

EOR injection operations commenced the first week of May 2022 and the Company has increased its current injection volumes to ~135m3/day (849 barrels fluid per day) and the Company anticipates oil production volumes to steadily increase based on the increase in injection rates. The Company EOR plan is to steadily increase its voidage replacement ratio from 1:1 (current), up to 3:1, which increase both total fluid and oil production volumes. The Company is actively monitoring injection volumes and production responses across injection patterns in an effort to maximize economic recovery of the Mannville "A" pool.

Analogues pools have reached recovery factors of original oil in place of upwards of 20%, while to date less than 8% of the oil in place has been recovered in the Mannville "A" pool. The Company has successfully completed the facility upgrades at the 7-36-9-8W4M oil battery. The Company had originally budgeted $440,000 for the project and announced it was completed for less than $300,000.