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Alberta Star Updates Drilling Operations at Landrose, Saskatchewan
Dec. 07, 2010 11:37PM PST
Oil and Gas InvestingAlberta Star Development Corp. (OTC:ASXSF) announces that the Company intends to spud a well (50% working interest to the Company) with the operator on section 16-50-26 W3M on or about December 6, 2010.
Alberta Star Development Corp. (OTC:ASXSF) announces that the Company intends to spud a well (50% working interest to the Company) with the operator on section 16-50-26 W3M on or about December 6, 2010.
The press release is quoted as saying:
The well will be targeting the McLaren formation, which the Company is currently producing from three (3) heavy oil wells located on nearby Section 6-50-25 W3M in the Landrose. Subject to the successful completion of the well, the Company expects to place the well on production by December 15, 2010, with an anticipated production rate of 70bbls/d (35 bbls/d net to the Company). Drilling and completion costs are expected to be approximately $380,000 ($190,000 net to the Company).
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