Argosy Energy Inc. Provides Operational Update

Argosy Energy Inc. (TSX:GSY) announced the operational update on the emerging Exshaw/Bakken/Big Valley play in Southern Alberta.

The press release is quoted as saying:

The most significant horizontal well targeted the Exshaw / Bakken / Big Valley formation and was completed using a multistage packer system. This well was placed on pump but continues to flow up the casing and is not showing any drawdown as it continues to clean up. In the last 10 days, the well has averaged a fluid production rate of 50 m3/day of which 60% is light reservoir oil (38 API) with minor natural gas volumes and the balance being load fluid. Oil cuts and volume from this well are steadily increasing as load fluid is recovered.

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