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Whitebark Energy confirms high flow capacity at Rex-3 well

After two days of testing, the Rex-3 well’s average flow rate measured 1,278boe per day.

Whitebark Energy Ltd - Whitebark Energy confirms high flow capacity at Rex-3 well
Rex-3 has clearly demonstrated commercial flow rates

Whitebark Energy Ltd (ASX:WBE) has received the initial pump assisted flow rates from the recently drilled Rex-3 well within the Wizard Lake Project in Canada.

The initial flow rates for Rex-3 were substantially greater than those seen in the previous Rex-1 and Rex-2 wells.

Rex-3 averaged 1,278 barrels of oil equivalent (boe) per day including 1,084 barrels of oil per day in the final 6 hours of a continuous 18 hour period.

The well was shut-in so the down-hole pump could be recovered to allow the well to free flow up the production tubing.

Like Rex-2, due to its natural reservoir energy, Rex-3 will be allowed to continue to flow naturally while well cleanup continues.

Whitebark increases working interest to 50%

Whitebark’s managing director David Messina said: “We are ecstatic about the Rex-3 results which have confirmed the very high flow capacity of the reservoir and reinforced the value of using long reach horizontal wells with multiple fracs.

“With three wells ready to flow and the production facilities almost ready to receive and process the oil and gas we are ending 2019 on a very high note.”

Whitebark’s working interest in the Wizard Lake oil development will increase to 50% following the drilling and completion of Rex 3.

Commissioning of upgraded production facilities

The Rex-1, 2 and 3 wells will be flowed through the recently upgraded production facilities once commissioning work is completed within a few days.

Quick facts: Whitebark Energy Ltd

Price: 0.004 AUD

Market: ASX
Market Cap: $12.1 m

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