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Whitebark Energy Ltd

Whitebark Energy’s Wizard Lake Rex well flowback continues

The company has a 30% stake in the Wizard Lake Rex well.

Wizard Lake well at Rex target
The Rex prospect has the potential for 12-14 follow up development wells

Whitebark Energy Ltd (ASX:WBE) has recovered about 50% of the load fluid to date at a rate of 1,500 barrels per day from its Wizard Lake Rex well Alberta, Canada.

The oil cut continues to increase as the load fluid is drawn down and the company expects this trend to continue.

Whitebark’s managing director David Messina said: “The well is performing at rates above expectations to date and we are looking forward to seeing a substantive, stabilised, oil production outcome as we clean the well up in the next few weeks.”

READ: Whitebark Energy begins flowback testing Wizard Lake Rex well, increases stake to 30%

The Wizard Lake horizontal exploration well was drilled at the Rex target within the Point Loma Joint Venture (PLJV).

The Wizard Lake Rex well was spud on 24 November 2018 and drilling finished on 2 December 2018.

This is the first horizontal well to be drilled in what could be a multi-well program.

Nearby activity supports commercial prospects of area

Recent activity in the area has resulted in highly commercial wells.

The Rex prospect has the potential for 12-14 follow up development wells.

Quick facts: Whitebark Energy Ltd

Price: $0.01

Market: ASX
Market Cap: $15.71 m
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Whitebark Energy begins commercial oil production at Wizard Lake project in...

Whitebark Energy Ltd (ASX:WBE) managing director David Messina updates Proactive Investors on the company's Wizard Lake Project in Canada, where it has started first commercial oil production after constructing a pipeline and process facility.   Messina says that the first step...

on 11/6/19

2 min read